Gas prices reached $3.764 yesterday based on a national average of a gallon of regular, according to the AAA. One month ago, that price was $3.467. At that rate of increase — 8% a month — a gallon of regular will cost $4 in only three weeks. The reasons gas will hit $4 are compelling, and most are already in place.
Parts of the country that are not near large refineries, but where demand is large, already face prices well above $4 per gallon of regular. The price in California is $4.345. Almost 38 million Americans live in the state, out of a nation total population of 311 million. Gas prices are also very close to $4 in heavily populated states New York, Illinois and Michigan. An illustration of how important the distance from refineries is — the average price for a gallon of regular in Texas is only $3.595.
Because of the high average price in most large states, as far as the majority of Americans are concerned, gas is already near or above $4.
Douglas A. McIntyre
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