Gas Price Hits Record $1.941/Gallon-Govt.

WASHINGTON (Reuters) - U.S. consumers will pay even more to fill up their automobiles as the average national price for a gallon of gasoline rose nearly 10 cents during the past week to a record high of $1.941 per gallon, the U.S. government said on Monday.



Pump prices are up 45 cents from one year ago, according to a weekly survey of more than 800 service stations by the Energy Information Administration.


Fuel prices have climbed in recent months because of strong demand for gasoline, tight petroleum supplies and high crude oil costs.


"It's not unexpected that we've seen prices increase this week," said Jonathan Cogan, a spokesman for the EIA. "And we don't expect this is the end."


When adjusted for inflation in 2004 dollars, the highest U.S. average retail gasoline price was $2.99 a gallon in March 1981, the EIA said.

http://news.yahoo.com/news?tmpl=story&cid=564&u=/nm/20040510/ts_nm/energy_gasoline_dc_5&printer=1

Not that this seems at all important today, but it is still newsworthy.

Gas here is $2.08 for regular. It's been over $2.00 for days.

Jay

Hanover, PA

MSNBC has this:

U.S. motorists face several more weeks of climbing gasoline costs, with the pump price forecast to peak in June at a record national average of $2.03 a gallon, 21 cents higher than previously expected, the Energy Information Administration said Tuesday.

Motor fuel prices are rising because of higher crude oil costs, which account for about 45 percent of the price of gasoline.

“Higher crude oil prices and rapid increases in mid-spring spot prices for gasoline have induced an upward shift in the forecast for gasoline pump prices,” the Energy Department’s analytical arm said its latest monthly energy forecast.

For the entire U.S. summer driving season, which runs from April through September, the EIA said it now expects gasoline to average $1.94 a gallon. The seasonwide average is 18 cents higher than the agency previously forecast.

http://www.msnbc.msn.com/id/4953986/

Seems like just a week ago it was $1.75. Damn.

Welcome to DU!! :toast:

it seems like it has been atleast a month since i have paid less than $2 a gallon.

i'm sure glad i drive a vw golf. all the suv driving bushistas in my office are strangely quiet lately.