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Gasoline Heads for $3 a Gallon

$90 per barrel oil pushing up gas prices

By Joe Benton
ConsumerAffairs.com

October 30, 2007     Spanish

• Gas Prices Trickle Down • Why Are Oil Prices Falling? • Labor Day Gas Prices Up a Penny • Gas Prices Fall for 37 Days • Gas Prices Slide 8 Percent from Record • Gas Prices Creep Down • Oil Price Trend May Be Good News For Consumers • Gasoline Drops Below $3.90 a Gallon • Gas Prices Pull Back Slowly • Oil Prices Fall As Storm Misses Rigs • Latest Gas Price Round-Up • 'Run Your Car On Water' Scheme Could Leave Consumers All Wet • Unregulated Energy Trading Blamed for Much of Gas Price Gusher • Airlines Join Effort To Limit Oil Speculators • Questions Raised about MyGallons.com • 'Hypermiling' Is Dangerous, Says AAA • Struggling Drivers Blame Washington for High Gas Prices • What’s Really Fueling Those Sky-High Oil Prices • Credit Card Fees at the Pump are a 'Hidden Tax' on Consumers • Survey: 3 Out of 4 Angry About High Gas Prices • $2 A Gallon Gas Possible, Analysts Tell Congress • Speculators Buy More Oil Contracts Than Oil Companies • Saudis to Pump More Oil • Limiting Oil Speculators Gains Ground • Congress To Probe Oil Price Spike • Oil Market 'Saturated,' Iran Claims • Feds See No Relief from High Gas Prices • High Gas Prices Could Mean Lower Insurance Rates • High Gas Prices Good For Kia, Honda • Gas Prices Rip Past $4 and Keep Climbing • Administration, OPEC See Different Causes Of Oil Surge • Feds Probing Possible Oil Market Manipulation • Beware of Fuel Sippers Sipping High-Test • Retailers Respond to High Gas Prices with Discounts, Promotions • Rushing Into a Smaller Car Too Soon May Not Save Money • Hybrid Sales and Prices Climb in Lockstep with Gas Prices • Truckers Bemoan Burden of High Diesel Costs • Gas Prices Biting into Worker Productivity • Consumers Warned About Gas-Saving Schemes • Is Tony Soprano Controlling Gas Prices? • Oil & Gas: The New Bubble • Critics: New Federal Gas Mileage Standard Falls Short • Consumers Feeling Pain of Skyrocketing Gas Prices • New Gas Price Record Forecasts Expensive Summer Driving Season --- • More ...

With oil prices above $90 a barrel, gasoline prices have started a move up that will soon break through the $3 a gallon mark if the present trend continues.

The national average price for regular self-serve gasoline jumped 2 cents a gallon overnight at now sits at $2.88, 8 cents higher than a month ago and 67 cents higher than one year ago.

Mid-grade gasoline is now selling for $3.05 a gallon and premium commands $3.16 for a gallon.

Diesel is selling for $3.21 a gallon.

E85 sells for $2.30 but when the price is adjusted to reflect the lower energy content of ethanol fuel the price the equivalency is $3.01 a gallon.

Gasoline prices are rising faster in some parts of the country. The average price for regular gasoline has hit $3.20 in California, 20 cents a gallon more than last month and 76 cents more than one year ago.

Here is a look at some gasoline prices from around the country.

Pennsylvania: Gas prices rose another 2 cents overnight in South Jersey, Pennsylvania and the five-county Philadelphia region, according to AAA-Mid-Atlantic.

The current average per gallon is $2.83 in the Philadelphia region, $2.64 in South Jersey and $2.73 In Delaware. Pennsylvania is averaging $2.89 per gallon statewide and New Jersey is averaging $2.66 statewide.

Gasoline prices rose over the weekend by 3 cents in Pennsylvania, including in the five-county Philadelphia region, and by 4 cents each in New Jersey (including in South Jersey) and Delaware.

AAA is forecasting higher gas prices at the pump this Thanksgiving because holiday auto travel typically increases demand for gasoline during the latter part of November.

California: Sacramento's average gas price jumped to $3.21 compared to $2.97 a month ago and $2.35 for the same date last year, according to AAA.

Regular gasoline is selling for an average price of $3.33 in San Francisco, $3.15 in Los Angeles and $3.18 in San Diego.

Indiana: Gas prices hit $2.99 at stations across Indianapolis with the average gas price rising to $2.91, up from $2.76 a month ago, according to AAA statistics.

Many stations across the city were selling gas at $2.99. Gas in Indianapolis last reached $3 a gallon during the first week of September.

Indianapolis recorded its highest gas price, $3.53, on May 26.

Michigan: Gasoline prices have risen a nickel per gallon in Michigan over the past week. AAA Michigan reports the average statewide price of regular self-serve is $2.97 per gallon. That's 73 cents higher than a year ago.

The Marquette area has the highest gas prices in the state, with drivers paying $3.03 per gallon.

The cheapest gas can be found in Benton Harbor, where prices are $2.93 a gallon.

New York: The average price for unleaded fuel in the Buffalo area rose to $3.01 per gallon, a 21.3 percent jump from $2.48 per gallon a year ago.

The average statewide was $3 per gallon with prices in the Utica area the highest at $3.05.

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