Time For U.S. Gasoline Prices To Catch Up?

by minsley ~ March 12, 2008

Gasoline prices hit $3.22 Monday — just short of an all-time high set last May. According to a Lundberg survey, the national average shot up 9 cents in the past two weeks, and is up 64 cents per gallon in the past 12 months.

If oil prices are any guide, you can expect to continue seeing prices rise at the pump.

While oil has jumped 45% over the past 18 months, gas has barely budged. Once refinery supplies of oil run down, you can expect gas to once again step up in line with the former’s record rise.