Gas Prices Inch Higher — But Biggest Price Hikes of 2012 Likely Behind Us

Business

0  Updated at 3:39 pm, September 4th, 2012 By: ABC Digital
Share This Story

Jupiterimages/Thinkstock(WASHINGTON) — The weekly average price of a gallon of regular gasoline is $3.84, up nearly seven cents from a week ago, according to the U.S. Department of Energy, and up 17 cents from a year ago.

Prices have inched up in recent weeks because of refinery problems  brought on by Hurricane Isaac, which shut down most oil production and refining along the Gulf coast.

Experts expect prices to start coming down toward the end of  September.  The country should see some of the lowest gas prices  around Thanksgiving and Christmas, with the caveat that a surprising pick-up in the economy or unforeseen supply disruptions could keep prices higher.

Even with a price drop, we could still see the highest yearly average gas price ever in 2012.

Copyright 2012 ABC News Radio



Stories You May Be Interested In:

Toys ‘R’ Us files for bankruptcy

19 Sep 2017

Robert Mclean, CNN

New home furnishing store coming to Ammon area

11 Sep 2017

Paul Menser, Bizmojo Idaho

Apple unveils iPhone X

12 Sep 2017

Heather Kelly, CNN

Leave a Reply

Your email address will not be published. Required fields are marked *