Monday, April 14, 2008

Gas prices could pass $3.50 in weeks

Go to AP original
NEW YORK - Gas prices fluctuated over the weekend but appear poised to resume their relentless trek toward a record high milestone of $3.50 a gallon. Forecasts call for gas to peak as high as $3.65 within a month.

Oil prices, meanwhile, rose to within a dollar of last week's record of $112.21 a barrel as the dollar fell and oil supplies were disrupted in the U.S. and overseas.

At the pump, the national average price of a gallon of gas edged lower overnight to $3.373 a gallon, 0.1 cent shy of a new record set Sunday, according to a survey of stations by AAA and the Oil Price Information Service. Still, prices are 0.8 cent higher than Friday, and almost 53 cents higher than a year ago.


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