By Joe Benton
ConsumerAffairs.com
May 19, 2008
The nationwide average price of regular gasoline continued to push toward $4 a gallon, setting a record price for the twelfth day in a row, according to the AAA Fuel Gauge Report.
The national average price for a gallon of regular unleaded is now $3.794. Gasoline prices have limbed almost 10 percent in the last month. One month ago regular sold for $3.474. One year ago a gallon sold for $3.178, almost 20 percent less than the current price.
Diesel is selling for $4.522, also a record.
Both mid-grade and premium gasoline are above the $4 a gallon. Mid-grade sells for a national average of $4.030 a gallon and premium sells for $4.175.
Average prices are above $4 a gallon in Alaska and Connecticut, with Illinois, New York, and California within several cents of the mark.
Two more major metropolitan areas, Chicago and Long Island, New York face $4 a gallon gasoline. Prices in Chicago have reached $4.07 and Long Island gas prices hit $4.01. They join San Francisco and 6 other California areas at record marks above $4.
Oil industry analyst Trilby Lundberg warned the worst is far from over. There is a "high possibility" that the national average gasoline price will reach $4 a gallon soon, she said.
"We are within 21 cents of $4 a gallon," Lundberg said. "There seems to be very good chance that we will reach it."
The cheapest gallon of regular gasoline is now found in Gillette, Wyoming for $3.42. The most expensive gasoline is sold at several locations in Hawaii for $4.55.
