Gas Prices Rise for the First Time in Months


0  Updated at 2:37 am, July 9th, 2012 By: ABC Digital
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Jupiterimages/Thinkstock(NEW YORK) — Good news for the European economy means bad news for U.S. motorists.  Gas prices went up an average of two cents on Friday and another two cents on Saturday to bring the average price of a gallon up to $3.38.  

Before this weekend, U.S. motorists had enjoyed 75 days of falling gas prices.

News that Europe is getting a handle on its debt crisis means its economy could soon rebound, and a robust economy means increased oil consumption by industries and individuals.  That pushes the price of crude higher worldwide, and drivers end up paying more at the pump.

As for the road ahead for U.S. motorists, experts believe gas price increases will slow or stop when the summer driving season comes to an end, and then will either go up or down, depending on economic news.

Copyright 2012 ABC News Radio