Gas and diesel prices both jumped again this week to record highs as the American economy falters due to higher energy costs.
Higher energy costs are blamed for fueling higher food and consumer good costs in a recent report from Texas A&M University.
Oil reached a high of $112 a barrel last week and some reports predict the price will increase to $150 or more.
The average gasoline price jumped nearly 6 cents to $3.389 a gallon. This is up 51 cents from a year ago at this time.
Diesel prices jumped over 10 cents a gallon to $4.059. This is up $1.182 a gallon from a year ago at this time.
Source: Department of Energy
Some Recent Headlines Concerning Gas Prices worth reading:
- Gas Prices Set Record, Oil Moves Higher - Washington Post
- Gas Prices Hit Record High; Vacationers Think Twice - WHAMTV 13
- Gas prices rise, as do drivers’ tempers - Burbank Leader
- Soaring gas prices sock landscapers - Mass Live.com
- Gas prices slip, but could hit $4 - USA Today
- Pump Prices at New Record Highs - MSNBC.com
- Ethanol Saves Money
- Amazing Oil Brings Higher Costs to Many Things
- When Oil Prices Rise, So Does Just About Everything Else
- Biofuel Myths vs Facts
- New Report Predicts $150 a Barrel Oil
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