As Gas Prices Rise, a Costly Summer Looms
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Experts predict pump prices may surge past last year's record highs when highway travel picks up late in the spring.
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US average retail gasoline prices are again approaching $2 a gallon, reaching a four-month high amid record high crude oil prices and the effects of Hurricane Ivan, a leading industry analyst said on Sunday.
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Several years of spring-time price spikes at the U.S. gasoline pumps may have worn down motorist rage into grudging acceptance, with more drivers determined to hit the roads for vacation this year despite the cost.
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WASHINGTON -- The likelihood of finding $2-a-gallon gasoline in some parts of the United States is increasing by the day.
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Rising crude oil costs are taking a toll on U.S. consumers, as the national price for gasoline jumped 5.1 cents a gallon over the last week and diesel fuel hit a record high, the government said on Monday.
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For the hundreds of thousands of New Englanders who will fill up the tank and hit the road this Labor Day weekend, a trip to the gas station is turning out to be a few dollars cheaper than it was on Memorial Day -- even though world oil prices keep climbing.
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Some executives warn that current fuel shortages could become a long-term problem, leading to higher gas prices.
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Amid soaring crude oil prices, gasoline costs have been dropping. But don't expect that to last, economists say.
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Despite record fuel prices above $3 per gallon, more Americans are expected to travel by car over the Memorial Day holiday weekend than a year ago
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The average U.S. retail price of  gasoline rose slightly over the last two weeks to almost $1.88  a gallon -- the first increase reported since late May,  according to the nationwide Lundberg survey of about 8,000 gas  stations.
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Drivers have been paying about 10 cents more for a gallon of gas since Dec. 31.
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Gasoline prices are heading up, ending an unusual period in which gasoline prices were falling even as oil prices rose.
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Rising crude oil costs are taking a  toll on U.S. consumers, as the national price for gasoline  jumped 5.1 cents a gallon over the last week and diesel fuel  hit a record high, the government said on Monday.
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Energy experts warn that the jump in the price of crude would raise prices for heating oil and gasoline in coming weeks.
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U.S. consumers will pay more for gasoline in the weeks ahead as fuel demand picks up going into the spring driving season, but a slowing economy may keep pump prices from rising as much as normal, energy experts said on Monday.
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WASHINGTON Sept. 30, 2004 - Consumers were tight-fisted with their money amid soaring gasoline costs last month while hurricane-related disruptions sent applications for jobless benefits to their highest level in seven months.
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Big oil companies did not conspire to raise U.S. gasoline prices last summer, as it was high crude oil costs and supply problems that caused the spike in pump prices, government investigators said on Thursday.