o'no pipeline - Gas Prices Climbing: $5 by Nov.?

     Gas prices usually drop in February, but not this year.  The national average of regular gas is up more than 8 percent since the end of last year.

"Gas Price Hike"

by STEPHANIE ELAM and JULIE BRAYTON, NBC L.A., Th.16Feb12

article source: http://m.nbclosangeles.com/nbclosangeles/db_/contentdetail.htm?contentguid=IuZjlxNM&full=true#display

 

     This is the earliest the average price for regular has crossed $3.50 a gallon.  That means the national average could top $4 a gallon by May.

     And we all know here in Southern California that means even higher prices.  So if the trend continues, gasbuddy.com is predicting $4.70 a gallon by Memorial Day in LA.

     "It's absolutely insane.  $4.70?  That's crazy," said driver Casey Michael.

     Experts say at $4 a gallon, gas prices can start to grate on our still sluggish economic engine.  This despite the fact that the
http://www.wtrg.com demand for gas in America is down to 1997 levels.

     But globally, China and India are using more.  Couple that with those continuing tensions in the middle east and you've got inflated prices.

     And consider this: analysts say for  every 50-cent increase in gas prices, $150-billion gets sucked out of the economy.

     In fact, it's estimated that a typical American family spent a record $4,155 topping of their tanks in 2011, that's more than 8 percent of what the median family earns, and represents the highest share of family income since 1981.

     "You could use that money for so much other stuff," said driver Paige Flannery.

     But it's not just the family budget that takes a hit.  It is costing businesses more to make their products, to get their planes up in the air and even to get those goods into stores.

     All of that ultimately affects how much you pay for almost everything you buy.

     And just in case you are wondering, the lowest gas prices in the nation belong to Wyoming at $2.94 a gallon.

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Current El Centro, California Gas Prices: http://www.californiagasprices.com/index.aspx?&area=El%20Centro

Current Los Angeles, California Gas Prices:http://www.losangelesgasprices.com/index.aspx?&area=Los%20Angeles

email Congress & W.H.: http://capwiz.com/congressorgfb/issues/alert/?alertid=41045506

related, gas prices: http://harrold.org/links/gas.html

reposted on Harrold's blog at http://harrolds.blogspot.com

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