The AAA Fuel Gauge shows that the price of regular gas per gallon, on average across the US, rose by almost 2 pennies yesterday. Oil prices moderated slightly at the same time, but Brent crude is still above $124, much to high to press gas prices down.
The AAA put prices at $3.716, up from $3.698 the day before and $3.419 a month ago. In some parts of the country, regular is near $4 and premium is well above that level.
Economists are still struggling with the issue of the point at which high gas prices will become a drag on GDP. Any figure would only be a guess. It will take until Q1 GDP is released before any figure can be proven.
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