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Gas pump prices that are around $3 a gallon now may seem like a bargain by the time your kids are on Easter egg hunts.
Pump prices have risen nearly 9 percent since Dec. 1 and topped $3.10 a gallon this week. That's the highest level since October 2008. The price may rise or fall a little over the next few months, but analysts expect it to range between $3.20 and $3.75 gallon by March and April ahead of the summer driving season.
The national average for regular gasoline about $3.12 a gallon on Friday, according to AAA, Wright Express and Oil Price Information Service. That's nearly 12 cents more than a month ago and 38 cents above a year ago.
Average pump prices range from $2.81 to $3.70 in major cities. For example, the average in Salt Lake City is $2.74 a gallon and in New Orleans it's $2.97 a gallon. Drivers in San Francisco pay $3.44 a gallon, and in Honolulu gas is $3.58 a gallon.
Americans typically drive less in the winter. Demand is about 1 percentage point higher than a year ago but remains weaker than the historical average, said energy analyst Jim Ritterbusch. The nation's gasoline supplies remain above the five-year average.
Over the next couple of months, refineries will conduct regular maintenance to prepare for the changeover to summer driving mixes. That could affect supplies, but gas prices should remain steady to a few cents more, according to oil analyst Tom Kloza of Oil Price Information Service.
By spring he expects the average price to rise to between $3.50 and $3.75 a gallon. Ritterbusch expects $3.20 to $3.25 a gallon by Memorial Day.
For every penny the price at the pump increases, it costs consumers overall an additional $4 million, according to Cameron Hanover analyst Peter Beutel. If the price goes up a dime a gallon, consumers pay $40 million more each day for that increase.
Crude oil prices fell again on Friday as traders speculated about whether China may impose more restrictions to control the growth of its economy, and looked for more signs that the U.S. economy is headed for better days
What else can I help you with?
How do rising gas prices affect teenagers?
The rising gas prices will affect teenages just as the rising gas prices affect everyone.
What are the gas prices in Denver?
As of May 15,2008 gas prices are around $3.63-3.69,but prices keep rising and are bound to change,usually vary now by the day...
What triggers the rising prices of gas and fuel your thoughts?
What triggers the rising prices of gas and fuel, your thoughts
What is the definition Rising and falling of heated gas?
where the temperature is dropping or increasing! Edit: Convection is the rising and falling of heated gas.
When does the rising the temperature of a gas increase its pressure?
When the gas is confined.
Why do fish float in fish tanks?
Fish have an gas-filled, internal swim bladder, whose buoyancy they regulate to keep from sinking or rising in the water.
Why doesn't rising air just keep rising all the way into space?
Gravity
Why is the price of gas rising?
oil company GREED
Why are gas prices rising near doomsday in 2012?
Gas Prices are changeing not because of the hoax 2012 stuff. Gas Prices are rising because of Foriegn stuff united states is putting are selfs in to. WE HAVE NO CONTROL OVER GAS PRICES.
What is the name of a jet of rising gas in the chromosphere of the Sun?
Spicule.
What is the region of rising and sinking gas in the sun?
Convection Zone
Is the price of gold expected to keep rising?
The price of gold is expected to keep rising. This is because of the state of the economny, demand for gold, and the continuing decrease of the value of a dollar.
