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Gas Prices Hit New High For 2009
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CBS
People are again dishing out to fill up. The average price for regular gas hit a new high for 2009 over the weekend.
Andrea Fujii reports it's more expensive to get from point "A" to point "B."
Experts say encouraging economic news is pushing crude oil prices up, spiking at $82 a barrel last week. That's up four percent from a week earlier.
"Because of what seems to be a strengthening U.S. dollar and an increase in demand, we have seen the price of gas go up," said Ragina Averella, AAA spokesperson.
Baltimore gas prices are averaging 3 cents below the national average at $2.66 a gallon for unleaded. But that's up 28 cents from just one month ago.
The highest prices drivers in Baltimore saw were back in June 2008. Regular gas was averaging $4.03 a gallon.
As Baltimore driver Bob Merbler filled up his 25-gallon SUV, he says he painfully recalls those really expensive days.
"I do remember that, didn't drive as much," said Merbler.
As holiday travel gets closer, experts aren't sure if the price hikes will continue.
"Most analysts are hopeful and believe that prices will go back to the $65 to $75 range, which then would lead to decreases at prices we are seeing at the pumps," said Averella.
Some drivers say they're not worried.
"I don't think gas prices are too high to be disappointed," said Coral Suwal, driver.
But to be on the safe side, Bob Merbler would rather drive something more fuel efficient.
"When I can afford to, I'm going to get a new car and probably get a hybrid," said Merbler.
Meanwhile, oil companies released big third quarter losses. Shell reported the biggest profit drop at 73 percent.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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