Gas Prices to Skyrocket?
You might want to go fill up the car today! According to CNBC gasoline is expected to jump 10 to 20 cents per gallon in the next several days, as rising oil prices and peak driving season are working to create a perfect storm for a big jump at the pump. Industry experts believe pump prices should follow the already higher prices in the spot wholesale market. The national average at the pump Wednesday was $3.50 per gallon for unleaded gasoline, up two cents from Tuesday's level, according to AAA's Fuel Gauge report. Spot market prices are already 30 to 61 cents higher per gallon than they were June 28, according to Tom Kloza, chief oil analyst with GasBuddy. He notes, "Even if it were to stop where it is today, we're looking at a considerably sticker shock for people at the pump."