(USA Today) 2012 Gas prices head for record levels

Gasoline prices are up sharply in the past month on surging crude oil costs and refinery woes, and now are likely to make 2012 the costliest year ever at the pump.

Nationally, gasoline averages $3.70 a gallon — up 30 cents since mid-July and is now higher than year-ago levels in 39 states. Prices are likely to continue climbing through August, with little relief until after Labor Day.

The swift, month-long, 9% price climb has lifted 2012’s average to $3.61 a gallon, vs. 2011’s $3.51, which had been the most expensive year ever for motorists. Even with demand expected to recede after the peak summer driving season, 2012 will surpass last year’s price, says Brian Milne of energy tracker Telvent DTN .

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Posted in * Economics, Politics, * International News & Commentary, Consumer/consumer spending, Corporations/Corporate Life, Economy, Energy, Natural Resources, Foreign Relations, Middle East, Politics in General

3 comments on “(USA Today) 2012 Gas prices head for record levels

  1. Cennydd13 says:

    We’re seeing that right now here in California. We’re held captive to the refinery in Martinez, and a few days ago, there was a fire there. Of course, they had to raise pump prices in order to pay for repairs, which means we’re getting whacked in the pocketbook again. I question why the shareholders of that company running the refinery shouldn’t be responsible for paying for those repairs. Take the cost of those repairs out of the company’s treasury instead of our hides! Should there be a federal law forcing refineries to do this? You bet there should!

  2. Nikolaus says:

    Gas prices in Missouri were about $1.60 in early November 2008 . . . jus’ sayin’ . . .

  3. Alta Californian says:

    At one point in 1999 it was $0.89 in Northern California…just sayin’…