Motorists are already paying well over $3 a gallon, and there are signs that it's beginning to cut into demand and hurt consumer spending. Gasoline prices have soared to levels never seen before as even the inflation-adjusted price for a gallon of unleaded topped the 1981 record spike in price that had stood for 26 years. To make matters worst as we approach memorial weekend, the prices of gas are expected to hike a bit. The Lundberg Survey, a bi-weekly gas price tracking service, put the price of a gallon of unleaded at $3.18 in its latest reading released late Sunday, up more than 11 cents from its reading of two weeks ago.
Monday, May 21, 2007
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