Gas prices push travel plans despite higher costs
Holiday travelers brace for Memorial Day as AAA forecasts 38 million Americans will travel 50 miles plus mainly by car. Gas at self serve averages 3.04 a gallon, up 25 cents month over month and 15 cents year over year, prompting some to shorten trips and cut expenses.
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Gas costs rigid for Memorial Day in New York
Gas prices stay elevated as Memorial Day weekend begins with futures rising on supply fears. Gasoline futures settle up 4.68 cents to 240.7 cents per gallon and light crude for July delivery closes at 65.20 dollars a barrel. Retail averages edge down to 3.225 dollars per gallon from a record 3.227, with comparisons to 2.862 a year ago and 2.109 in 2005. refinery outages threaten further price pressure. inflation adjusted peak near 3.29 dollars per gallon seen in 1981 reported by Energy Department. The market chatter calls it a feeding frenzy before the holiday, likely to ease after.
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Acceptance grows amid grumbling over high gas prices
An AP Ipsos poll shows nearly half the public expect serious hardship from high gasoline costs and many consider trading fuel guzzlers for efficient cars. Government data put the national regular gas price at 3.22 a gallon, about 50 percent higher than January, with 46 percent forecasting severe financial problems.
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