Gas Prices Still Climbing, But at a Slower Pace
Posted on April 24, 2011Gas prices are still climbing steadily higher. The AAA's Fuel Gauge Report has the nation's average price at $3.860, which is about three cents higher than last week.
A CNN article says the pace of higher prices is slowing, and may have peaked. This would be welcomed news to American drivers, but it may be a little late as prices are already impacting consumers. CNN says gas prices are up 70 cents since February 18. The highest average price in the nation is in Chicago where the pain at the pump is a steep $4.27 a gallon.
It is a confusing time period for consumers. CNN's story says the pace of gas prices appears to be stabilizing. A the same time there are stories warning of yet higher price. The Christian Science Monitor warns $6 gas is possible giving the right conditions this summer. A big hurricane in the Gulf of Mexico would not be good for gas prices or for Gulf coast residents.