Holiday motorist should have no trouble affording a fill up for their travels over the next few weeks. However, all good things must come to an end. We will tell you why you should be expecting an increase in gas prices in January.
Mr. Durango Weeks pulled into a gas station just outside of Philadelphia, and just after filling his tank he looked up and noticed that the sign read $9.99 a gallon.
So, what's up with this?
While gas prices may be coming in a little bit after a four-month surge, they still stand at almost four dollars a gallon. According to a new survey from Harris Interactive of 2,451 adults, these unprecedentedly high prices are causing Americans to change their overall spending habits.
Anyone who has a car and a reason to go somewhere may have experienced a little weight loss this month. It’s not because they’ve been power walking, watching what they eat or doing more activities that don’t involve the use of a Snuggie. It’s because their wallets and purses weigh a lot less.
Remember the summer of 2008 when the highest gas prices on record occurred and the price for a gallon of fuel hit $4.11?
Hate to break this to yah, but a warm winter and tensions in the Middle East have some analysts predicting current prices will top $4 by this spring — and could even climb as high as $6.50.
If it seems like it’s costing more and more to fill up your gas tank, it’s not just your imagination.
On average, a gallon of fuel costs 22 cents more than it did at this time last year. Worse yet, experts think it’ll climb higher still.