Gas Prices Jump

Summary: Gasoline prices have pushed past $3 a gallon in parts of California with no letup in sight. Over the last week, average pump prices jumped at least a dime a gallon in much of the nation, the Energy Department said Monday.

Fuel experts blamed the multi-week surge on refinery and pipeline problems, strong oil prices, unusually high driver demand and the tricky annual change to less-polluting summer gasoline.

"This is very bad," said Kevin Kiroub as he pumped $2.899-a-gallon gasoline into a custom Chevy Silverado 2500HD pickup truck at a Chevron station just west of downtown Los Angeles. Kiroub owns Iceberg Heating & Air Conditioning in Sunland, and he really racks up the miles on the truck, which runs on a 6.0-liter V-8 engine that generates 353 horsepower.

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  • Rohit

    This is bad news for gas vehicles and good news for hybrids and PHEVs as it is going to make them more attractive and provides an opportunity to shift the market in favour of green.

  • Mike

    Not news. Every spring, its the same thing for the oil companies, “we need to raise prices due to shortages, and we need raise them again because of…(blah, blah, blah)”

    However, this is good news to us hybrid owners and environmentalists alike.

  • RichardT

    It’s true fuel prices go up every spring and down somewhat every winter, but the overall price rises approximately 20% a year. If the trends I’ve seen over the last six years hold (I record prices at our local gas stations three times a week) this should be the summer gas prices reach $3.50 a gallon here in Indiana – IF there AREN’T any major hurricanes or political disasters this year. Consumer Reports in their updated report on hybrids have changed their base price considerably – “Our latest comparison is based on a mathematical model that assumes that the average price of regular gasoline will gradually rise over the next five years to almost $6 a gallon and average $3.66 a gallon for the entire period.” Glad I got the Prius when I did.

  • Jerry

    The sooner it gets to $3.50 the sooner we will start using less, and better hybrids will be made and sold.

  • JohnPerez

    I agree, everyspring gas prices go up. And days beofre a major holiday gas goes up. I am not looking forward gas prices here in Northern California for the summer. last summer gas prices at the lakes were almost 0.50C more than on the highway. I honestly will not be suprised to see myself paying $3.50 for just unleaded so I can make my regular one way 70 mile commute to work in SF. The only good thing I look forward to paying gas at $3.50 a gallon is that when I see gas for $3.00, I’ll be excited becuase that will be cheap >

  • Kris

    Here in Canada we are no strangers to paying $1/litre or the equivalent of $4.50/gallon. With the recent hikes we are almost at 1.10/litre.

    😕

  • less NOx

    So maybe Kevin should trade in his 6 liter 353 horsepower V-8 truck for something a little more responsible to help himself and the rest of the planet. But maybe driving a gas guzzler is a good business decision since he is doing more than his fair share to add to global warming then making a living off of selling people air conditioners!

  • Bill

    Well now that the elections have been decided and the Democrats promised to cure this Big Oil mess, I see nothing has changed other then the Democrats bank accounts have gotten bigger from Deposits from Big Oil.

    So much for all the it was the Republicans fault because they were on the take with Big Oil.

    Now that the shoe is on the other foot the Demoncrats don’t look so good any more.