Complain about a product or service

A New Gas Price Record, Maybe

Or Then Again, Maybe Not

By Joe Benton
ConsumerAffairs.com

July 24, 2006

• Oil and Gas Supplies Rise • Gas Prices Accelerate Their Decline • Gasoline Prices Down 19 Cents in a Week • Charlotte Gas Stations Make Refunds to Consumers • Oil Snaps Back As Markets Sense Post-Election Bounce • Gas Prices Settle Still Lower for Weekend • Gasoline Prices Keep Falling • Gas Below $3 Nationwide • Average Gas Price Down to Nearly $3 a Gallon • Gas Prices Drop, Along With Oil • Gas Prices Head Lower as Economy Slows • Gas Price Declines for 9 Days • Gas Prices Continue Downward Trend • Oil Prices Surge By Record $25 a Barrel • Gas Prices Drop for 5 Days • Price-Gouging Probes Spread to 6 States • Investigations of $5 Gas in North Carolina, Florida, and Virginia • Shortages, Price Hikes Follow Ike in Southeast • States Investigate Gasoline Price Gouging Claims • Pumping More U.S. Oil Won't Lower Prices, Consumer Group Says • Oil Prices Fall, Gas Prices Surge • Gas Prices Slide 8 Percent from Record --- • More ...

The national average for regular self serve gasoline has reached the highest price in 25 years according to the latest nationwide Lundberg Survey but the AAA tracking report posts the price just below the record AAA recorded following hurricane Katrina.

Either way, prices remain painfully high and within a penny of $3 a gallon.

The national average for self-serve according to Lundberg was $3.015 per gallon on July 21. The average national price according to AAA on July 21 was $2.99 on July 21.

The difference is where the record high is placed. Lundberg recorded the previous high as $3.0117 set in September of 2005. AAA Fuel Gauge places the record $3.057 last September 5.

Neither price is a record when adjusted for inflation according to the Lundberg survey. Lundberg pegs the inflation-adjusted peak at $3.16 set in March 1981.

"This price increase does not portend more price increases, unless there is a deepened threat to world oil supplies," Lundberg said.

Although there are some refinery capacity problems, demand is not growing and probably is shrinking with gas at more than $3 a gallon, she said.

The highest price for gasoline was found in San Diego at an average $3.28 a gallon, and the lowest regional average was in Charleston, South Carolina, at $2.77 a gallon, she said.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Back to the top |