Published on AOL.com’s Daily Finance:
American consumers can’t catch a break. Jobs are hard to find and wages are stagnant for those who are still working. And now higher gasoline prices threaten to take the few pennies that are still rolling around at the bottom of the piggy bank.
Currently, U.S. gasoline consumption is relatively low, as a result of consumer belt-tightening and the fact that 7.6 million jobs have been lost in the recession, forcing millions of motorists off the roads. Most economists would say that these conditions should lead to a drop in gasoline prices. Add in the winter season — a period when gasoline sales are at their lowest, due to less leisure travel — and Americans should be enjoying a nice decrease in gasoline prices.
But what’s happened in the past six months? Gas prices have risen about 30 cents to a U.S. average price of $2.75 per gallon for unleaded regular, according to gasoline price surveyor gasbuddy.com. Prices in the U.S.’s high-cost areas are already approaching or exceeding $3 for unleaded regular 87 octane gasoline, with prices ranging from $2.92 in New York City to $3.08 in San Francisco.
And the news gets worse: Prices are likely to rise heading into spring and summer.
To read the full article, click here.
Gas prices these days are just getting higher, i think the government should focus more on alternative energy.,”: