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Just in Time for Christmas: $3 Gallons of Gas

If you aren't already paying that now, you likely will

By aarontco, Newser User

Posted Dec 5, 2010 8:31 PM CST | Promoted on Newser Dec 5, 2010 11:01 PM CST

(User Submitted) – The price at the pump edged up 3.9 cents in the last two weeks to an average of $2.91 per gallon, according to the latest Lundberg Survey, which sampled gas prices at 2,500 filling stations across the US. That's 28 cents higher than it was last December. At this rate, says the survey's publisher, "We may easily pay three dollars per gallon or more by Christmas."

Crude oil prices are behind the rise: The cost of crude has risen $8 to $89 per barrel, which is the highest it has been in 25 months. There is no indication that prices will drop any time soon. The survey found the highest average prices were in Long Island, at $3.21; the lowest were in Denver, at $2.61. Read the full article at CNN.

(AP)

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Showing 3 of 28 comments

Odaecom

Dec 7, 2010 1:22 AM CST

I dont recall that last time I saw it under $3 a gallon, it must be that I live so far from the refineries that causes the high prices. Since the ones near Los Angeles are so far away...

crafter67

Dec 6, 2010 2:54 PM CST

This is what we get from an unregulated esential commodity with no incentive to be ethical. I'll believe the hikes have something to do with supply and demand when the oil companies take a hit in their proffits because they don't have enough to sell.

Odoggy

Dec 6, 2010 8:54 AM CST

Why does this always happen when it's too cold to ride my scooter!

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Just in Time for Christmas: $3 Gallons of Gas

If you aren't already paying that now, you likely will

gas prices • crude oil • gasoline prices

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More Newser Stories

Illinois Mayor to Residents: Leave Town to Buy Gas

Prices are too high; Tim Baldermann encourages boycott

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Recent posturing has already sent price up 20%

US Drivers Set to Spend Most Ever on Gas in 2011

Total tab could hit $491B

Gas Prices Expected to ... Drop

Oil falls under $100 as Americans start driving less

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