Tuesday, February 21, 2012

Gas Prices Gaining, Could Head Much Higher

Gas prices continue their worrisome rise, as the average price in Georgia this month is $3.51 a gallon, according to AAA. A year ago, the average price was around $3.09.

Analysts say the budding economic recovery, the European bailout of Greece and uncertain relations with Iran have contributed to rising oil prices, which have climbed over $100 a barrel in recent days. Higher oil prices, of course, lead to higher gasoline prices.

Analysts also warn consumers not to expect much of a break on prices soon, as spring approaches.

Some predictions call for gas to go above $4 a gallon in April, with potentially higher prices later.

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