Lundberg Survey Reports on Gas Prices

The Lundberg Survey reports that the nationwide average price of gasoline is $1.80 a gallon
(this number is an average of all three available grades). The price reflects a 3-cent rise
in the last two weeks. Experts say the chances of prices dropping soon are slim, because
demand usually increases in late spring and summer.

This means that U.S. consumers are
paying the highest price ever for gasoline, but are not paying the highest prices once
inflation is factored in.

The previous record was set in August 2003; this week’s record,
while numerically the highest, is less than the inflation-adjusted prices of March 1981,
when the cost of a gallon of gas was about $2.85 per gallon.

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