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Gas prices up a few cents for weekend travelers
by Joseph Ernest August 6, 2010
Newscast Media -- This weekend, motorists heading out for back-to-school shopping or road trips will pay a few cents more at the gas stations. A rally in oil caused prices to rise this week, but the rise is not expected to continue in the weeks ahead because of typical light trading in the oil market in August.
The national average for a gallon of unleaded regular gasoline was $2.779 Friday, about 3.8 cents higher than a week ago, according to AAA, Wright Express and Oil Price Information Service. It's also 16.9 cents more than motorists paid a year ago. Story continues below...
Travelers in the West, Illinois and New York are seeing the highest prices, in a range between $2.891 a gallon and $3.554 a gallon. The lowest prices are in Texas, the Midwest and the Gulf coast region.
Unleaded regular gasoline prices should range between $2.75 a gallon and $2.85 a gallon until Labor Day when a retreat is expected as demand falls, said Tom Kloza, publisher of the Oil Price Information Service.
That means drivers should expect to pay about $140 for gasoline this month if prices average $2.80 per gallon. A typical driver uses about 50 gallons of fuel per month. It's still less than the gas bill in the summer of 2008, when prices topped $4 a gallon. That cost motorists about $200 a month for gasoline.
Most analysts believe it will take a hurricane shutting down Gulf production or a similar significant event to see a big shift in gasoline prices.
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