Study: Summer Could Bring Most Expensive Driving Season Ever
POSTED: 4:51 pm EDT March 26,
2008
UPDATED: 7:53 pm EDT March 26,
2008
WASHINGTON -- A new study predicted that this spring and summer could bring the most expensive driving season ever.When drivers filled up at a Northwest gas station on Wednesday, they paid nearly $3.50 for a gallon of regular unleaded gas. Supreme unleaded was $3.74 a gallon.
"They're outrageous. It's ludicrous," said Maryland driver Scott Moomau."Sometimes I don't go to work because this too much. This gas. I don't know," said Maryland driver Crisologo Cancha.Some analysts are predicting the cost of fuel will far exceed even that price in the coming months.The Consumer Federation of America said an unusual set of circumstances is pushing fuel prices upward.
The oil industry is seeing declining demand, record stocks and increased refining capacity--factors that normally reduce gas prices.But the weakening dollar, OPEC's resistance to increasing production and fluctuations on Wall Street have increased the price of crude oil and maintained the upward pressure.The pressure is affecting drivers like Carlos Amaya. He said gas prices have caused him to change his normal routine. "Sometimes what I do, I have to take Metro. I have to ride my bike some time," Amaya said. "What I'm going to start doing is riding the bus, because jobs don't pay enough money, you know?"The increased demand due to summer travel could push regular unleaded fuel near $4 per gallon.
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