Drivers across the country may be cringing when they pull up to the pump these days as gas prices are close to reaching an all-time high.
CNN reports that gas prices have jumped nearly 20 cents over the past two weeks from $3.57 to $3.76.
The all-time high was set in July 2008 when average gas prices were $4.11, according to the Lundberg survey. Only 35 cents from that record high, drivers around the country are growing increasingly concerned.
Jilby Lundberg, publisher for the Lundberg Survey has this to say about what to expect in the near future:
“Unless crude oil relents and slips, we can expect a further rise at the pump because pump prices do not reflect all of the crude oil price hikes that have occurred.”
The most recent survey was performed on Friday where the highest gas prices were recorded in San Francisco Bay area at $4.13/gallon. The lowest were recorded in Tucson, AZ at $3.41.
As auto insurance rates are concurrently trending upwards, many drivers may feel the increased financial burden right now.
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