Gas roars higher, pressuring holiday travelers

NEW YORK (AP) - As consumers began hitting the road Friday for the Memorial Day weekend, they faced the sobering reality that it now costs $87 to fill a Ford Explorer SUV, up $14 from last year, and $72 to fill a mid-sized Honda Accord, up $12.

That’s because gas prices, which took another jump higher overnight, are up nearly 20 percent, or 65 cents a gallon, over the past year to average nearly $3.88 a gallon nationally. But unlike this time last year, when gas prices were at their peak for 2007, pump prices now show no signs of halting their daily assault on the record books.

“Four dollars (a gallon) is a done deal now,” said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill. “We could go significantly above that.”

On average, drivers in Alaska, Connecticut, California, New York and Illinois are already paying more than $4 for gas, and an increasing number of stations around the country are posting prices higher than $4. In Alaska, where the average price of regular gas stood at a national high of $4.181 Friday, it now costs $94 to fill an Explorer, and $77 to fill an Accord.

Nationally, the price of a gallon of regular gas rose 4.4 cents overnight to a record average of $3.875, according to AAA and the Oil Price Information Service. Prices are headed even higher in coming days because of oil’s dramatic rally this week to a new record over $135 a barrel.

“We’re going to see some more significant increases here in light of what we’ve seen in the last few days,” said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J.

Oil prices fluctuated Friday after as investors placed bets before the long holiday weekend. Light, sweet crude for July delivery rose 34 cents to $131.15 a barrel on the New York Mercantile Exchange, but alternated between gains and losses.

“This is just pre-weekend volatility,” Ritterbusch said.

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Gas roars higher, pressuring holiday travelers

I have an idea, let’s call the big oil companies bluff, ALL Americans stay home for the long holiday weekend, just stay home, spend time with the kids, cook out on the grill, chill a melon, do the holiday in your back yard, and don’t buy any gas for 3 days, that’ll cast the gauntlet down, and throw the oil folks into a tailspin as we slap them back to reality…

It’s the perfect time folks, have a safe Memorial Day, enjoy it and be frugal!!

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5 Responses to Gas roars higher, pressuring holiday travelers

  1. Deb N. says:

    I was thinking, as I was driving home from work this morning, what if people did just that? didn’t go anywhere? It would be very strange to see hardly anyone on the road. Unfortunately I don’t think it will happen, although it should. It is exactly what I am going to do. Considering I couldn’t even completely fill my pick up’s tank before the $75 limit. But I still think that gas will go down a little next week. Happy Memorial Day, Fred and to your son & family.

  2. TexasFred says:

    Deb N., I agree, people won’t do it, they are way too self indulgent and have absolutely no willpower anymore, I mean NONE, it’s all ME ME ME and to hell with everything else…

  3. Kate says:

    Welp, we gonna be one of those odds families. We’re gonna stay home. We like home, we don’t wanna go anywhere.

    I’ve never understood the need for people to flood the highways on a 3 day weekend, rushing to get someplace where they MIGHT get to spend a few hours before they have to turn around and go home. 😕

  4. RTaylor says:

    I’ll be home this weekend. Went to Monticello this afternoon and saw diesel fuel at the Valero and Diamond Shamrock stations was $4.79 per gallon. My Chevy pick up really likes that stuff, too…..
    I’m not really blaming the oil companies as much as I blame Washington for ensuring we cannot drill domestically (gotta save that carabu), build more refineries and the state, local and Federal governments for taxing the snot out of us.
    Besides, like Kate, I like “home”….. Made my Memorial Day posts on ATAW and plan on working in the yard and doing some genealogy research. Think I’ll take a break from the news — it’ll be the same old crap Tuesday anyway………..

  5. Basti says:

    I always thought that traveling on holiday’s was like going drinking on New Years Eve, its for amateurs. I’ll be cooking out and my oldest is coming down. She lives about 4 miles away and we’ll have steaks and hoist a few. Y’all have a good holiday.

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