Gas Prices Hit Historic Milestone, Says AAA | Edmunds.com
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Gas Prices Hit Historic Milestone, Says AAA


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Just the Facts:
  • The national average price of gasoline will surpass $3 a gallon today for the 1,000th consecutive day for the first time on record, according to AAA.
  • AAA is calling it "a milestone no motorist is excited to celebrate."
  • The U.S. Energy Information Administration's forecast for the regular gasoline retail price averages $3.44 a gallon in the fourth quarter of 2013, 11 cents per gallon higher than in last month's short-term energy outlook.

WASHINGTON — The national average price of gasoline will surpass $3 a gallon today for the 1,000th consecutive day for the first time on record, according to AAA.

AAA is calling it "a milestone no motorist is excited to celebrate."

"Paying less than $3 per gallon for gasoline may be automotive history for most Americans, like using eight-track tapes or going to a drive-in movie," said Bob Darbelnet, AAA president and CEO, in a statement. "The reality is that expensive gas is here to stay."

The U.S. Energy Information Administration's forecast for the regular gasoline retail price averages $3.44 a gallon in the fourth quarter of 2013, 11 cents per gallon higher than in last month's short-term energy outlook. The average U.S. household in 2012 spent $2,912 on gasoline, or just under 4 percent of income, before taxes.

The AAA Daily Fuel Gauge Report on Tuesday pegged the average price for a gallon of unleaded gasoline at $3.51 versus $3.86 a year ago. Gas prices on average have remained above $3.50 a gallon for the majority of days during the current streak.

Gas prices first surged above $3 a gallon for eight days immediately following Hurricane Katrina in 2005.

Forty-six percent of adults believe gas is too high when it reaches $3 a gallon, according to a consumer index developed by AAA.

Edmunds says: What was the cost of gas when you started to drive?

Comments

  • reminder reminder Posts:

    Nice milestone. I happen to live in an area that is always soildly above the national average. Not as bad as The Golden State, but plenty high for my liking. Advantage/Big Oil.

  • pickles51 pickles51 Posts:

    I believe fuel (premium) cost around 35 cents/gallon when I began to drive. The best way to reduce the price of gasoline (by at least 50 cents/gallon) is to have Congress repeal the way barrels of oil are priced. Enron (remember them) got Congress (thru Wall St) to switch from pricing barrels of oil based on supply and demand to pricing barrels of oil based on the futures market. The futures market is great for Wall Street, but bad for the consumer.

  • garrym garrym Posts:

    You Americans still pay low prices for gasoline. Build the Keystone XL pipeline and you'll get a secure oil supply, job creation and fuel prices that should be stable or perhaps decline. Or, you can carry on importing oil from countries that hate you, but like your money to fund terrorism and/or enslave their people.

  • henry4hire henry4hire Posts:

    When I was 16-25 I had a 1970 Chevelle SS and it get 10 MPG when I drove slow. Gas was about $1.25 a gallon in 2001. I could fill it up with $30 and the range was about 200 miles. That was such a fun time, but it would also breakdown for no reason and when I started working a "real" job I had to get another car. I did the unthinkable and bought a used 1995 Integra GS-R and it was a fantastic car that got 30 MPG and never broke down. I sold that Chevelle and never looked back. Now I have a 2006 TSX with a six-speed and it's great. I do miss me some Detroit Iron though and I will get back into it with a second car in the future.

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