Thursday, September 1, 2011

AP: Gasoline close to record high before Labor Day

QUOTE: "Gasoline is near the highest it's ever been for this time of year, just ahead of the Labor Day weekend. The run-up in oil prices this year, combined with a rash of refining problems throughout the U.S., has boosted pump prices. The national average on Thursday is $3.629 per gallon. Drivers will pay more for gasoline this Sept. 1 than in any other year except 2008, when pump prices hit an average of $3.686. Retail gasoline prices are rising in the U.S. even though motorists are buying less. Analysts say they have been pushed higher by a steady rise in international gasoline demand. Americans may be using less, but drivers in developing nations are using more."

Anyone remember what else happened back in 2008?  (Hint: It had to do with the greatest economic collapse since the Great Depression...)

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