Gas prices could soon break July 2008 record

By Gary Strauss, USA TODAY
Gasoline prices, on the rise for more than three weeks, could top all-time highs by Memorial Day.
Nationally, a gallon of regular averages $3.81 — up 10 cents in the past week and nearly 96 cents above year-ago levels. Industry experts say prices could surpass July 2008’s record $4.11 as seasonal demand, speculators and political uncertainty in Libya and the Middle East propel crude oil prices.
“We could easily tack on another 30 to 40 cents a gallon,” says Darin Newsom, senior analyst at energy tracker Telvent DTN.
In some areas, gas has already hit those levels. In Los Angeles, regular averages $4.20 a gallon. In Chicago, it’s averaging $4.17.
Typically, prices peak around July 4, the height of the summer driving season. But escalating prices are already crimping demand and could derail vacation travel, says Tom Kloza, chief oil analyst at the Oil Price Information Service.
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Related: 4 months ago; National gas price average breaks $3 barrier https://www.baltimorespokes.org/article.php?story=20101223185040673

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https://www.usatoday.com/money/industries/energy/2011-04-14-gas-prices-near-record.htmoldId.20110416061814240