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. (Read more gas prices stories.)