Traffic:   29 Incidents
Weather: 69°F Go
  02:36am EDT, 07/06/08
Search:    1010wins.com  Web  Audio
Local News

Posted: Thursday, 15 May 2008 11:38AM

Gas Prices Hit Another Record

NEW YORK (1010 WINS)  -- It's going to cost you even more for a fill-up today.

The AAA Thursday morning puts the price of gas at a national average of just over $3.77 for a gallon of regular. Premium is a whopping $4.15.

That about 68 cents a gallon higher than this time last year. And the price is expected to climb at least until the Memorial Day weekend.

The Energy Department forecast recently that prices would top out next month at an average of $3.73 a gallon. Many analysts now expert the national average to hit $4 a gallon in the coming weeks.

Meantime, the price of crude oil today has steadied above $124 a barrel. Crude prices slipped from record highs following a mixed report from the government yesterday on U.S. petroleum reserves.

The AAA also says high fuel prices are prompting Americans to curb their travel plans for Memorial Day weekend.

The travel agency said Thursday its survey shows the number of Americans traveling more than 50 miles from home over the long holiday weekend will fall nearly one percent from last year.

AAA president and chief executive Robert Darbelnet said many Americans are feeling a financial pinch this holiday weekend due to record high gasoline prices and other factors.

The group said the number of people planning to travel via car will drop by one percent, while the number of air travelers will fall by about a half a percent.


(TM & Copyright 2008 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO & EYE Logo TM & Copyright 2008 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Inthe interest of timeliness, this story may contain occasional typographical errors.)
 
 
Print Page Email This Page
Featured Audio
Three Stabbed in Brooklyn Dispute
Police say one man has died and two others are wounded after they were stabbed during a dispute in Brooklyn.
 
 
ADVERTISEMENT
 
 
News Watch
 
 

Weddings
Find Wedding Locations, Wedding Photography, Bridal Expo, and other wedding resources in the New York area from PartyPOP.com