Gas prices up for 10th straight week
12:42 PM Mon, Jun 22, 2009 | Permalink
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Projo 7 to 7 News BlogTaking the news pulse of Rhode Island and Southeastern Massachusetts, by Providence Journal and projo.com staff, from 7 to 7, every business day |
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Get the 7 to 7 on your mobile at www.projo.com. Twitter: projo | RSS | Email alerts By C. Eugene Emery Jr. PROVIDENCE, R.I. -- The gasoline price picture is turning out to be as gloomy as the weather. Self-service regular prices rose another 4 cents over the past week, to $2.72 per gallon, according to the state's weekly survey of 13 stations. Since the beginning of the year, prices have been going up 4 cents per gallon per week, which means at the current pace we'll be paying $3 per gallon by mid-August. A similar survey by AAA Southern New England put the average price at $2.71, which is five cents more than AAA's survey found last week. AAA says the average gas price has increased 10 straight weeks in Rhode Island. The price of diesel, after logging a 7-cent jump the previous week, rose 3 cents to $2.71 per gallon, according to the state survey. Home heating oil prices increased a penny in the last week, to $2.47 per gallon. Among the nine retailers surveyed, the range of prices was wide, from a low of $2.08 to a high of $2.85. -- With projo.com reports. 
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here we go again, just what we need...
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This article is slightly off on the facts. I just read an AP article that states that more than likely we've reached the end of the line for gas price increases this summer. Unemployment is up, the economy is not recovering as quickly as investors hoped, and gas demand is still at 10 year lows. All the speculation is starting to crash, and crude and gas futures are already falling this week. Expect to see lower gas prices at the pump by this time next week. Just do a Google News search for "gasoline prices" and you'll probably run into the same article that I did. It's good to see the marked finally reflect demand - it's been ridiculous that prices have been rising despite the demand being low.
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DRILL BABY DRILL! yeah right.
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