Monday, April 09, 2007

Gas Prices Rising

Gasoline prices were $2.77 a gallon Monday at Han-Dee Hugo's BP on US70 in Selma. The local average was $2.74 a gallon Monday, a nickel below the national average.

Gasoline prices continue to climb. The national average price for a gallon of regular unleaded self-serve gasoline is $2.79 a gallon. Locally, the average is $2.74. The highest prices in the nation are in California , as high as $3.89 a gallon, while the lowest prices are in Barnwell , South Carolina at $1.99. Crude oil prices have dropped in recent days in trading, however processed fuel prices have increased. Analysts blame the price increases on instability in oil producing countries and increased consumption. Demand for gasoline is up 1 to 2 percent over last year at this same time. Compared to last Easter, prices are down 8 cents, but in the past month, have increased almost 19 cents a gallon, and up 36 cents a gallon since Christmas. Even with higher demand, prices at the pump are forecast to remain below $3 a gallon this summer in North Carolina .


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