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Petrol prices near their peak level

  • Written by admin | No Comments Comments
    Last Updated: August 11th, 2009

    Summer price spike is below normal due to weak economy, but markets and storms could change the forecast. Petrol prices, which have surged 19 cents in the past 20 days, are not far from the peak level industry analysts expect this summer, but they remain well below last year’s record.The average national price for a gallon of gas could fluctuate between $2.55 and $2.70 a gallon in the coming weeks, according to spokesman Troy Green of motorist group AAA. But he warned that the estimate depends on such factors as the price of crude oil, which has risen in the past few weeks, and the severity of the so-far quiet hurricane season. The national average price for a gallon of regular gasoline edged up 0.2 cent to $2.645 Monday, according to AAA’s daily survey of up to 100,000 filling stations.

    Prices have increased every day since July 21, when the national average stood at $2.458 a gallon. During that time, the national average has risen 18.7 cents, or 7.6%.Hawaii had the highest gas prices of any state at $3.179 a gallon. The cheapest prices were in South Carolina, where gas averaged $2.424 a gallon

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