Pump Prices To Hit $3 By Christmas
US – If you have not seen it yet you soon will, filling stations with gas over $3. Unless there is a dramatic drop in the price of crude. The Lundburg Survey completed Friday, showed the national average price per gallon of self-serve unleaded gasoline at $2.91, increased by 3.9 cents since two weeks ago.
The problem is crude, now at $89 per barrel, which is at a 25-month high. This in turn will force wholesalers to pass the increase onto the retailers. In the past two weeks retailers have lost 50% of their profit per gallon. The retail profit for a gallon of gas is only 6 cents. Gas prices have increased by 28 cents since this time last year.
The Lundberg survey took prices from 2,500 gas stations. The survey found the highest price was Long Island ,New York at $3.21 per gallon. The cheapest was in Denver, Colorado at $2.61. Average price per gallon in other cities were:
Lowest: Albuquerque, New Mexico: $2.75, Atlanta, Georgia: $2.84, Baltimore, Maryland: $2.90
Highest: Minneapolis, Minnesota: $3.03, Chicago, Illinois: $3.09, San Francisco, California: $3.19
“We may easily pay three dollars per gallon or more by Christmas,” claimed Trilby Lundburg, the survey publisher.
