High January Gas Prices Could Signal Dicey Year

By: Associated Press
By: Associated Press

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Monday, January 16, 2012

There is no easing of gasoline prices this January like we usually see.

Triple A says both gasoline and crude oil prices are at historic highs for this time of year. It says the national average for regular gas rose four cents a gallon last week to $3.39 -- up 11 cents so far this month.

Triple A says we can thank crude oil prices hovering around $100 a barrel, plus repeal of the ethanol tax credit. Crude oil prices have pushed up from $76 a barrel in October because of increased global demand and optimism about the U.S. economic recovery.

Triple A says analysts believe, and market indicators support, that it will be a tumultuous year for gas prices.


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