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Position: Auto Articles - [Auto News] - Gas Starts Back Up for the Weekend
Updated: 01:13 p.m. EDT, June 20, 2008
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Gas Starts Back Up for the Weekend

After three days of modestly trending downward, gasoline prices reversed course on Friday, June 20 according to statistics compiled by AAA, with the national per gallon average rising to $4.075 over Thursday's $4.073.

The all-time per gallon high was reached on Monday, June 16 at $4.080. Even with the three-day decline, prices are still 7% higher than those in May and 36% higher than in 2007.

Residents in California remain the hardest hit drivers, paying $4.609 followed by Alaska at $4.511 and Connecticut at $4.379. The best prices are in Oklahoma at $3.836.

Only minor relief was offered to diesel customers, with the price falling on Friday from $4.791 to $4.786. Although average drivers are hard hit by gasoline prices, the cost of diesel and its effect on the trucking industry is causing prices for all consumer goods, particularly food, to rise concurrently.

In early trading on Friday, the price of crude oil rose to $133 after losing $5 on Thursday on an announcement by China of plains to raise gas and diesel prices in an effort to curb demand, a move that could have some effect on prices world wide.

At the same time, President Bush is seeking a resumption of offshore drilling for oil in a bid to increase the domestic supply and lessen national dependence on foreign oil.




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