Gas pushes above US$4 in United States
10 June 2008Retail gas prices in the United States rose further above a national average of $4 Monday, and are likely to keep rising as distributors and retailers hike prices in response to last week's unprecedented oil price rally.
At the pump, the national average price of a gallon of regular gas in the United States rose 1.8 cents overnight to a record $4.023, according to AAA and the Oil Price Information Service.
Prices first moved above $4 nationally on Sunday, though they've been higher than that in many parts of the country for weeks.
AAA spokesman Geoff Sundstrom thinks prices could rise another two to three cents.
At $150 a barrel - the Morgan Stanley price prediction that helped ignite Friday's oil rally - gas would cost about $4.40 a gallon, said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J.
AAA spokesman Geoff Sundstrom thinks prices could rise another two to three cents.
At $150 a barrel - the Morgan Stanley price prediction that helped ignite Friday's oil rally - gas would cost about $4.40 a gallon, said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J.
Labels: Oil Market, United States
posted by HRM Deborah of Israel and the Messenger of Peace at 5:21 PM
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