Gas Prices Are Highest Ever for This Time of Year
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Updated: 10:54 PM Feb 20, 2012
Gas Prices Are Highest Ever for This Time of Year
Gasoline prices have never been higher this time of the year.
Posted: 10:54 PM Feb 20, 2012
Reporter: The Associated Press/GasBuddy.com
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NEW YORK (AP) -- Gasoline prices have never been higher this time of the year.

At $3.53 a gallon, prices are already up 25 cents since Jan. 1. And experts say they could reach a record $4.25 by late April.

The surge in gas prices follows an increase in the price of oil.

Higher gas prices could hurt consumer spending and curtail the recent improvement in the economy.

A 25-cent jump in gasoline prices, if sustained over a year, would cost the economy about $35 billion. Economists say it's a meaningful amount, especially at a time when growth is only so-so.


Rockford, February 19- Average retail gasoline prices in Rockford have fallen 5.6 cents per gallon in the past week, averaging $3.46/g yesterday. This compares with the national average that has increased 4.5 cents per gallon in the last week to $3.51/g, according to gasoline price website RockfordGasPrices.com.

Including the change in gas prices in Rockford during the past week, prices yesterday were 26.8 cents per gallon higher than the same day one year ago and are 1.5 cents per gallon higher than a month ago. The national average has increased 17.1 cents per gallon during the last month and stands 35.0 cents per gallon higher than this day one year ago.

"Gasoline prices have perked up a bit in the last week," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "As we continue to move towards warmer weather, gasoline prices will follow, with prices accelerating higher at a faster pace come late March into April, so if motorists think this is bad, they should really hold on to their chairs," DeHaan said.


Latest Comments

Posted by: Ola Location: New York on Mar 13, 2012 at 06:01 AM

In fact, the high gas prices have been blamed on unrest in the Middle East, a pickup in the economy and rising demand from China and India. However, President Barack Obama is confronting Americans' anxiety over rising gasoline prices by drawing attention to his energy policies and taking credit for increased oil and gas production, a greater mix of energy sources and decreased consumption. Just read Obama to address rising gas prices. It appears that rising gas prices are mostly due to the work of Wall Street speculators and traders, not any increase is now in demand..
Posted by: dino Location: wincty on Feb 26, 2012 at 05:24 PM

Slobama is still blaming George Bush for everything and anything he can.The truth is obvious.Slobama has had over 3 years to make things better.To say he's failed is a"huuuuge"understatement.This country cannot survive 4 more years of this great socialist.High fuel costs were the start of all of our economic problems.He seems as blind to this as his cohorts.
Posted by: Big Bopper Location: West End on Feb 22, 2012 at 10:07 AM

Must be some more of the inheritance from that damn Bush.