AAFES gas prices hit record highs with no relief in sight

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AAFES gas prices hit record highs with no relief in sight
By Matt Millham, Stars and Stripes
European edition, Friday, April 11, 2008

AAFES gas prices in Germany and the United Kingdom will break into record territory again Saturday, adding roughly 4 cents a gallon to all unleaded grades.

But that’s only part of the bad news.

Prices are expected to go even higher — possibly above $4 a gallon in the U.S. — according to a report Tuesday from the U.S. Energy Information Administration, which tracks and predicts global energy trends. If that happens, Army and Air Force Exchange service prices, which use U.S. prices as a baseline, will certainly rise well beyond that mark if they haven’t already.

Diesel prices passed $4 a gallon in every European locale March 22, and remain above that mark despite two weeks of modest price declines.

In the Netherlands, where fuel is so costly that AAFES sets its prices just high enough to break even, all fuel grades are above $4 a gallon for a second straight week. Midgrade, up 7.9 cents in the Netherlands, and premium, up 7 cents, are in record territory. Diesel, which rises to $4.551 per gallon, is still more than 14 cents away from the record set in March.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=53978