Monday, April 11, 2011

Gas Prices (Again)

Gasoline prices have jumped almost 20 cents a gallon in the last three weeks to an average of $3.76 nationwide.  Analyst Trilby Lundberg, publisher of the Lundberg Gas Price Survey, says the price at the pump is within striking distance of the all-time high of $4.11, set in 2008.

In Hampton Roads, gas prices have climbed 14 cents in only a week, the AAA is reporting.  The Hampton Roads average price is $3.68 a gallon for self-serve regular.

As gas prices rise, demand for it goes down.  Mastercard reports that gasoline sales have fallen for five straight weeks.  And a survey by  the Oil Price Information Service finds that about 70 percent of the nation's major gas-station chains have reported falling sales.

To which I say welcome to the warmer weather and the chance to run errands by bicycle again.  While I can't bring home a week's worth of groceries, I am able to lug home a gallon of milk and a bag of bagels from BJ's Wholesale Club.

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