Sunday, May 1, 2011

Increase in price of gas at $3.88

 Gas prices continue to increase the summer season approaches. This week the national average price of gas reached $3.88, until a little more than 3 cents a week ago and a $1.03 a year, according to the Department of energy.

The price of gasoline is shocking many families to the pump. On the social networking website such as Twitter some Americans began to share photos of outrageous numbers of gas. A man attacked three digits for the 27 litres of gas. In the image that he shared on the website, the price of the gas ring to $105.


The new average gas prices means more costs for road travel. With the current price of gas at $3.88 per gallon, a vehicle that gets 20 miles per gallon will cost your family around $155 in costs of gasoline for a travel 800 miles.


Over the past eight weeks, gas inventories fell by 32.8 million barrels, about 10 per cent, according to data from the Energy Information Administration. Total motor gasoline to the United States was 208.1 million barrels for the week ending April 15, a 7.5% decrease from a year ago. Inventory was 240.9 million barrels and ending on February 4.


While a decline in stocks of gas is common this time of year, in part because drivers more with time warmer, decrease this year is greater than in previous years, said Patrick DeHaanAnalyst of oil with Gasbuddy.com. He said this fall likely will be a "key factor" an increase in the price of oil, but it does not call that a "huge concern."


"It's not as if we are going to wake up tomorrow and run out of gas", he said.


On 18 April, the average price of gasoline was $3.84 per gallon, up 98 cents of it was a year and 5 cents the previous week, according to the Department of energy. It is the highest price for April, as the data were collected in 1990. Last time gas passed higher $3.50 was September 29, 2008, when the weekly average reached $3.63. The last time gas was less than $3 a gallon was on December 20, 2010, while the average was $2.98. With spiraling gas prices, drivers are turning to tools like Gasbuddy.com and Mapquest.com to find less expensive the price of gasoline.


Christian Dwyer, General Manager of Mapquest, said pilots could use the calculator on the site to determine whether it is least expensive drive, fly or to use alternative transportation means to reach a destination. And you can use free Mapquest mobile application for iPhone, Blackberry and Android devices for turn by turn voice guided directions to reach the gas station.


"You can be a loyal customer and buy a brand of gas." But as prices rise, we become more sensitive to price, Dwyer said.


President Obama certainly became aware of the increase in prices, as some polls show the increase in costs and concerns the economy may be a factor in his fall polls.


In a hotel of city of Reno last week, the President said he asked Attorney General Eric Holder "out of any cases of fraud or manipulation in the oil market that might affect the price of gasoline", which includes the role of merchants and speculators. We will ensure that nobody benefits from American consumers for their own short-term gains. ?


In a statement prepared, the licensee stated that the financial fraud enforcement task force will focus on fraud in the markets of energy and will include representatives of a "range" of federal agencies, regulatory authorities, inspectors general, State and local law enforcement agencies.


"We will be vigilant in the markets of oil and gas for mischief of surveillance so that consumers can be confident, that they don't pay higher prices as a result of unlawful activity," he said in the statement. "" If the illegal conduct is responsible for the increase in gas prices, State and federal authorities must take prompt action.""

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