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Gas Prices closing in on an average of $4 a gallon!
Average price of self-serve regular close to $4 a gallon!
May 18, 2008: 6:00 PM EDT
(CNN) — The average price of gasoline has jumped another 17 cents a gallon in the past two weeks to a record-breaking $3.79 a gallon for self-serve regular, according to a national survey released Sunday.
This climb in prices makes it a “high possibility” that many cities will see $4 a gallon regular gas soon, said survey publisher Trilby Lundberg.
“We are within 21 cents of $4 a gallon,” said Lundberg. “There seems to be very good chance that we will reach it.”
Four dollars a gallon of regular unleaded happened in two metro areas in the latest survey, according to the biweekly Lundberg Survey.
These areas had the highest average gas prices in the survey. They were Chicago, $4.07 and Long Island, New York, $4.01.
“That is the first time in history we have ever had two metro areas over $4 a gallon,” said Lundberg.
The survey looks at thousands of gas stations across the country. The main reason for the price hike was record highs in crude oil prices, Lundberg said.
Learn how you can save at the pump and help the environment while increasing the MPG.
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