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Gas Prices Rise for 34th Consecutive Day, Only 25 Cents Away From 2008 Record High

Gas prices increased for the 34th consecutive day. The national average for a gallon of unleaded regular gas is $3.86, according to  the AAA Fuel Gauge Report.  Gas prices are more than $1-a-gallon higher than a year earlier and less than 25 cents away from the record high price of gasoline set in July 2008. (The record high price set in 2008 is $4.11.)

Chicago had the highest average price in the continental US for gas at $4.27, according to analyst Trilby Lundberg. This is the first time in recent months that the highest gas price in the continental US is not in California. Typically the nation’s highest gas prices in the US are in Hawaii, Alaska and California.

There are no signs of relief coming at the pump any time soon. Many analysts predict that gas prices will top the 2008 record as soon as Memorial Day.

There are several reasons for the continuous rise in gas prices this year. The violence in the Libya continues to get worse and many fear the violence is spreading to other parts of the Middle East. The US dollar is tanking, which causes gas prices to rise. The peak summer driving season is right around the corner. The US economy seems to be picking up, which means demand for gas will increase, driving prices even higher.

 

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Categories: Fleet Management News, Vehicle Tracking Systems