Published: Friday, April 15, 2011 at 11:30 a.m. Last Modified: Friday, April 15, 2011 at 11:30 a.m.
NEW YORK — The average price of gasoline is now above $4 per gallon in five states, and it could rise to that level in New York and Washington, D.C., this weekend.
The $4 mark is a tough reminder for American drivers. The last time they saw prices that high was in the summer of 2008, just before the economy went into a tailspin. Retail surveys show that motorists are already starting to buy less fuel, yet the government still expects pump prices to keep climbing this summer.
The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. It's above $4 in Connecticut, Illinois, California, Hawaii and Alaska.
Meanwhile, benchmark crude lost 44 cents to $107.67 per barrel on the New York Mercantile Exchange.