Gasoline in the U.S. climbed this week, boosted by a surge in oil, and is expected to reach the highest level for this time of year since 2008.
The pump price averaged $3.686 a gallon yesterday, up 1.2 cents from a week earlier, data posted on the Energy Information Administration’s website late yesterday show. Oil, which accounts for two-thirds of the retail price of gasoline, gained $2.49 a barrel on the New York Mercantile Exchange in the same period and $4.88 in the month ended yesterday.
The jump in crude, driven by concern that the crisis in Iraq will disrupt supplies, may boost pump prices by 10 cents a gallon at a time when they normally drop, according to forecasts including one from the EIA.
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I sure do miss the days when a gallon of gas was less than a dollar.
The last time I remember gas being less than a dollar was (I believe) in
late 2001 during my senior year in high school. I remember the price
that day being $.89 a gallon.
Those were the days. I sure miss being able to pay for a full tank of gas with a 10 dollar bill.
I remember when gas was $1.25 of course I was much younger at the time.