Gas Continues Rapid Race To $4
March 30, 2012 by Douglas A. McIntyre
Not a single day passes without an increase in the price of regular gas, as measure by AAA based on a national average. That price rose to $3.925 yesterday up from $3.921 the day before and $3.606 a year ago. There are a number of states in which the price is above $4. These include Alaska, California, Connecticut, Illinois, Indiana, Michigan, and New York which among them have over 50% of the US population.
Oil prices are still at the heart of the gas price problem. France, the UK, and US may release part of their strategic oil reserves to increase supply. There is worry, however, that the increase will trigger a drop in production by Saudi Arabia, which wants to keep oil prices around $100
And, the trouble which has cause some of the run-up in oil, particularly shuttering of refineries and political tension with Iran, are not about to go away
