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Though not nearly as bad as the summer of 2008, fuel prices have climbed one full dollar per gallon since this time last year. Gas prices in the U.S. are now averaging $2.67 per gallon.
The average price of regular grade unleaded gasoline was a reasonable $1.67 per gallon last January 5th. Since then, the national average has quietly gained momentum and now sits at $2.67 per gallon. Diesel, however, is slightly more stable than regular gas and has only risen $.43 per gallon since last year, and now averaging $2.83 per gallon. There’s still a lot of fluctuation in fuel prices from state to state. California residents may be subject to prices reaching $3.36, while Texas consumers may find prices as low as $2.44.
Crude oil closed at just over $81 per barrel yesterday, nearly 100 percent higher than it was a year ago. So, with fuel costs rising only rising 60 percent, we suppose we can count our lucky stars. When gas prices peaked in 2008, consumers paid up to $4.11 for gas and $4.84 for diesel. Crude oil peaked at more than $140 per barrel in the summer of 2008, let’s hope that doesn’t happen again soon. Economists believe the rising fuel costs are an indication of a recovering economy.
Source: AAA
That’s just because the dollar is worth less than it was in the black summer of 2008. Thanks, President Know-It-All!