U.S Gas Price Tops $3 A Gallon, Highest Since October '08

WASHINGTON (by Ayesha Rascoe) - The average price of U.S. gasoline rose above $3 a gallon over the past week, reaching its highest level since October 2008, the Energy Department said on Monday.

The national price for regular gasoline increased 7 cents from the previous week to an average of $3.05 per gallon, as rising crude oil prices bolstered fuel costs.

Crude oil settled down 51 cents at $91 a barrel on the New York Mercantile Exchange on Monday as a major blizzard in the U.S. Northeast cut down on already thin holiday trading volume.

Diesel fuel prices increased 4.6 cents to $3.29 a gallon, the department said in its weekly survey of service stations.

(Reporting by Ayesha Rascoe; editing by Jim Marshall)

Copyright 2010 Thomson Reuters. Click for Restrictions.

Comments

[media4me]

04:32 PM on 12/30/2010

Average gas prices

12/30/08=1.50
12/30/10=2.90
Great job Obie.

[Genosse Joe]

09:53 PM on 12/28/2010

Will Obama allow many more refineries to be built?
Will Obama open more inland and offshore US territory for oil drilling?

[grandfather]

06:31 PM on 12/29/2010

Quit watching the propaganda put out by the corporate run Fox News. More drilling is not the answer. Alternative fuels, reduced consumption, and more public transportation is the key. If we would have taken the money we spent the past 8 years fighting wars for oil, and put that money into alternative fuels....the middle east oil would be next to worthless.

[Ordinary Citizen]

07:21 PM on 12/28/2010

Oregonians get excited when gas goes below 3 bucks...we have been running over 3 bucks for the last three years maybe more.

[Janine547]

05:17 PM on 12/28/2010

$3.20/gal here in suburban Detroit. I don't care how high it goes, either way I have to have it. It's not like I can run my business from home.

[AgingLady]

03:30 PM on 12/28/2010

Very very old news in California.

[kriskrinkel]

02:23 PM on 12/28/2010

not a word from the media,unlike 2 years ago it was all Bushs fault.All part of the liberal plan.

[media4me]

04:28 PM on 12/30/2010

No surprise.

[The Rewd]

01:55 PM on 12/28/2010

Not but a little over two years ago the prices of oil and fuel were escalating along these same lines and the media was screaming. This time around, nada.

OPEC gives a number and speculators are all too happy to bring it to fruition despite market forces. OPEC can do what they want, speculation can be reigned in. The fact that CFTC remains untouched is criminal not just because they get away with it but also because those who have a political agenda based on high energy prices are allowing it to occur.

[media4me]

04:33 PM on 12/30/2010

The affirmative action president is doing wonders for our energy needs.

[baomike]

12:16 PM on 12/28/2010

""U.S Gas Price Tops $3 ... "" With a picture of a guy pumping diesel (green).
Diesel has been above $3 for months, no new news there.

[maidenofdforest]

12:04 PM on 12/28/2010

If gases prices is being anticipated to rise (anytime soon!), then, economic recovery which has been slow will be snail paced, as in.

[maidenofdforest]

12:12 PM on 12/28/2010

Rephrase:

If gas prices...

[The Rewd]

01:56 PM on 12/28/2010

...are

or singularize "prices"

Merry Christmas!