How high will they go?
Gasoline prices, already too high for most people's liking a month ago, have continued to soar and seem to be closing in inexorably on their record high above $4 a gallon.
And while most petroleum market-watchers remain convinced that political upheaval in the Middle East and ensuing speculation on the commodities markets are behind the price increase, evidence suggests that there may be another cause that's even less likely to go away anytime soon.
On Friday morning, according to travel club AAA Midatlantic and the Oil Price Information Service, the average price for a gallon of regular unleaded in the Richmond-Petersburg metro area was $3.642. That was up from $3.625 the day before, from $3.50 a week earlier, from $3.406 a month ago and from $2.766 on the same day last year. It's still below the all-time high of $4.006 set in July 2008, but it's close enough to be causing real pain at the pump.
Read more: http://progress-index.com/news/gas-prices-keep-soaring-as-u-s-fuels-other-countries-growth-1.1130294#ixzz1J8dF7Qw7