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Old 02-14-2009, 06:53 PM   #1
Dantheman62
Avalon Senior Member
 
Join Date: Sep 2008
Location: So. Cal. U.S.
Posts: 4,205
Default Is $2-a-gallon gas on the way?

Two-dollar-a-gallon gas could be back soon if current trends hold.

The average gas price in metro Atlanta jumped 14 cents a gallon in the past week and 20 cents in the past month — despite relatively low crude oil prices.

Saturday’s average was $1.86 a gallon, according to atlantagasprices.com, which tracks prices based on motorist reports.

That compared to $1.82 on Friday, $1.78 a week ago and $1.66 a month ago.

But it was still far lower than a year ago, when the average was nearly $3.

The national average was $1.96 on Friday, according to AAA, up from $1.80 a month ago.

Crude oil prices tumbled all week until Friday, when they rebounded 10 percent to settle at $37.51 a barrel on the New York Mercantile Exchange.

Experts say the disconnect between crude oil prices and rising gasoline prices stems from refinery production cuts, in part to hold up profits amid weak demand and also because of seasonal maintenance.

Some think prices will continue to rise above $2 heading into the spring, but that they won’t go much higher as long as the economy remains weak.

http://www.ajc.com/services/content/...svc=7&cxcat=13
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