Nationwide Fuel Prices Jump

Last week, the nationwide average pump price for gasoline reached $2.88. A number of
factors have contributed to the jump in fuel prices in the past month. The U.S. Energy
Department says that new, cleaner gasoline with ethanol instead of MTBE additives could
result in short-term shortages this summer that may also drive up prices. In addition,
global problems have dimmed prospects for relief anytime soon.

The Automobile Club of
Southern California’s Weekend Gas Watch reports record-high prices for self-serve regular
grade gasoline. The average price of self-serve regular gasoline in the Los Angeles-Long
Beach area is now $3.029, which is 11.5 cents higher than last week, 33 cents higher than
last month, and 41 cents higher than last year.

According to AAA Texas Weekend Gas Watch,
the cost of a gallon of gasoline also rose there. The average cost of self-service regular
in Texas was up 10.3 cents per gallon to $2.832. That’s up 70.9 cents from last year at
this time.

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