Gas prices all set for another new record
According to a survey shown by AAA on friday, its found that the average price of regular gasoline is ready to set a new record.
The average price of regular unleaded rose 0.8 cents to $3.365 a gallon from the $3.357 the day before, according to AAA’s Web site.
Gas prices are up 19.9% from the last year prices.The nationwide average was $3.246 a gallon, a month ago.
The reason behind the normal rise of gasoline prices is that people travel more during the spring season. However, the record pump prices have also been supported by high crude prices as shrinking profit margins cause refiners to pull back on production.
Oil prices surged to a new trading high above $112 a gallon on news of an unexpected decline in inventories before falling back to $110.87 Thursday.
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