Tuesday, March 18, 2008

Gas Prices Climb Higher

gas gasoline energy price inflation recessionGasoline prices, fueled by higher prices of crude oil, increased to $3.289 per gallon, according to a new report released by the US Department of Energy.

The weekly average price for regular gasoline was up 5.9 cents from last week and over 70 cents from a year ago at this same time.

Higher energy, oil and gas prices are credited with fueling higher food and other price increases in the US economy.

Source: US Department of Energy, Energy Information Administration

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