Gas prices continue to rise, no end in sight

Print
Email
|

by Ryan O'Donnell

Bio | Email | Follow: @3TVODonnell

azfamily.com

Posted on August 19, 2012 at 5:18 PM

Updated Sunday, Aug 19 at 5:20 PM

PHOENIX -- Be prepared when you head to the pumps. Gas prices continue to climb, and unfortunately, experts predict no end in sight.

Prices began rising last week and haven't stopped since.

Triple-A said the national average price for a gallon of unleaded is $3.72, which is five cents more than just a week ago and 29 cents more compared to last month.

Contributing factors include reduced production in South Sudan and the North Sea, declining output from Iran as a result of an oil embargo by many western nations, and the price of ethanol from corn, which is a required additive for gas in the U.S., has spiked because of the drought in the Midwest.

With the national average at $3.72, Triple-A said that's still 22 cents cheaper than the peak prices this year of $3.94, which was recorded on April 5.

Click here to find the cheapest gas in your area.

 
 

 

Print
Email
|