http://money.cnn.com/2007/03/12/news/economy/gas_prices/index.htm?postversion=2007031215
According to the nationwide Lundberg survey gas prices nationwide are at a average of $2.55 a gallon. Gas prices jumped up 20 cents a gallon in the past 2 weeks. The pricest mostly rose because of demand but also because the waterways used to transport ethanol are frozen. Ethanol is a gasoline additive that makes gas cleaner burning. Gas has been running 5 percent above the average for the past 5 years. A energy trader by the name of Newman Bakarat stated gas can top its all time high of $3.06 this summer. According to a recent study from Cambridge Energy Research Associates the number of miles the average American drove last year dropped to 13,657 and was the first decline in 25 years.
Monday, March 19, 2007
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