Gas pump prices close in on average $3 a gallon

[Freddie Stubbs]

Source: The Miami Herald

NEW YORK -- The average price of a gallon of gasoline this week continued to march steadily to $3 a gallon. In some parts of the country, it's above that already.

On Friday the average price of a gallon of regular across the U.S. was almost $2.98, according to AAA, Wright Express and Oil Price Information Service. That's up 2 cents from Monday and 10 cents more than a week ago. Drivers on the West Coast pay an average $3.21 a gallon. Gas is about $3.09 a gallon in New England, $3.05 in the Mid-Atlantic states, $2.98 around the Great Lakes and $2.82 in the Southwest.

A dime more a gallon may not sound like much, but it adds up to $40 million more out of the driving public's pocket.

The rising price of oil has pushed up gasoline prices. Crude has climbed about 5 percent in the past 10 days, and on Tuesday it topped $90 for the first time in over two years. On Friday, benchmark oil lost 65 cents at $87.72 a barrel in midday trading on the New York Mercantile Exchange.

Read more: http://www.miamiherald.com/2010/12/10/1967307/gas-pump-prices-close-in-on-average.html

[Angry Dragon]

1. And I do not believe that fuel and food are included in the cost of living figures

[Newest Reality]

2. i hear that

consumer sentiment may have the power to fix everything, so not to worry.

I would like all consumers to make a real effort to be sentimental about gas prices so that they will look better in the future. Then, something magic will happen.

Thank you, please.

[d_r]

3. holidays must be coming

[Uncle Joe]

4. Kicked and recommended.

Thanks for the thread, Freddie Stubbs.

[woo me with science]

5. No COLA. nt

[saigon68]

6. Fancy Feast Cat Food is too expensive now

[Lugnut]

7. $3.099 per gallon for regular here.

Northeastern Pennsylvania.

[pinniped]

8. Paid $3.46/gal earlier.

.

[Imagevision]

9. In Naples Florida the price of gas went up $2.89 to $2.99 overnight!!! that's a record...

[Broken_Hero]

10. Must be Xmas bonus time

for the Oil exec's....fwiw, gas in SW MO 2.79

[social_critic]

11. Oil prices are going up, so of course the price at the pump goes up

The key reason is the oil price, which goes up and down. Recently it went up due to a run up in the euro price and a tighter market. Later the euro came down a bit, but the market tightened. As the market tightens, the prices tend to go up. Why is the market getting tighter? Because supplies are not tracking demand, and oil in storage is lower. Meanwhile, OPEC nations are letting the price creep up rather than increase their production. They may have decided for now to let it go higher than their "comfort level" to see what happens. Or maybe the Saudis feel they should put pressure on the USA for some reason. This is the murky part.

[fasttense]

14. As the dollar goes down in value the price of gas goes up.

As speculators bet on commodities the price of gas goes up.

One way or another, the middle class and poor pay for the uber wealthy's games.

[Creative]

12. Oil, gold and other commodities are worth what they are worth...

On the other hand, the dollar's worth is set by Helicopter Ben.

[NikRik]

13. where I live its been $3 + for some time now !

Come to the San Francisco bay area, I live aprx 40 east of San Francisco and regular gas is hovering around $3.25per gallon!In the city I imagine its even higher.Of course everything here cost more $, cost of housing etc,etc.I feel like a stanger in my own world, Iam paying $1,375.00 rent for a 2bdrm condo and thats considered a good price to others around here.I've been unemployed for over a year now and the job market is a joke. We are back to only $10 a hour jobs being available and even those are hard to come by.I remember in the seveties making $10per hour was acceptable ,now adays its a joke.By the time you put gas in your car eat lunch you might go home making $50 bucks for the day, most of these new jobs are part time no benifits and little or no chance for moving up upward within the company you work for. Management treats the employees like trash and think at $100,000 aa year they are making they are the elite entitled ones who deserve more then anyone else when actually they do 1/2 the work of the low paid employees.Iam starting to understand why people are going insane.We went from a decent country with a strong work ethic and middle class to the haves and the have nots.I gues Iam stuck on the worng side of that fence.I dont wish anyone a life of working hard with little conmpensation and no better future in sight.While the rich look down their noses at us let them remember what the bible says how its easier to thread a camel threw the eye on a needle then a rich man to get into heaven.Now I believe this relates how the wealthy person lives their life ,do they want to help other less fortunate or are the greedy $$ gubbers that wont give a little more to help those in need!
IMHO NikRik

[MindPilot]

15. I thought it was coming down to $3 a gallon. n/t