Gas hits record high
Pain is ever more acute at the pump for American drivers this week — and experts say it could worsen — as U.S. average retail gasoline prices neared a new high of almost $3.20 per gallon. Gasoline prices are rising sharply as refiners, who have kept prices down in order to compete for sales, become more willing to pass on their higher costs of crude oil, according to an industry analyst who spoke to Reuters on Sunday. According to the nationwide Lundberg survey of some 7,000 gas stations, the national average for self-serve regular unleaded gas was nearly $3.20 a gallon on March 7, up about 9.44 cents per gallon in the past two weeks. The price has risen 64 cents per gallon in the past 12 months and, according to the report, gas prices could increase another 20 to 30 cents in the next month.
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