Gas now at highest level, even adjusted for inflation; AAA’s reading of nearly $3.20 a gallon marks ninth straight record high in current dollars.
May 21, 2007
NEW YORK (CNNMoney.com) — Gasoline prices have soared to levels never seen before as even the inflation-adjusted price for a gallon of unleaded topped the 1981 record spike in price that had stood for 26 years.
And higher prices could be on the way as Americans get ready to hit the road for the Memorial Day holiday and the start of the summer driving season.
Two different surveys found record high pump prices once again.
The nation’s retailers say soaring gas prices are prompting U.S. consumers to cut back on their purchases and shopping trips.
The Lundberg Survey, a bi-weekly gas price tracking service, put the price of a gallon of unleaded at $3.18 in its latest reading released late Sunday, up more than 11 cents from its reading of two weeks ago.
While gasoline had already been in record territory in current dollars, Trilby Lundberg, publisher of the survey, said this is the first time that her survey topped her 1981 record high when adjusted for inflation.
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May 23, 2007 at May 23, 2007 - 6:54 am
Hi! You’re right about the worsening gas price today!As part of the community, we all need to do our part in doing all we can for a “peak oil” world. Yes, energy crisis is an issue which needs to be considered by the rest of humanity and action needs to be done asap so that we can save our resources and thus save the world!
Economical usage for fuel means less demand for fuel which also means less fuel waste and we get to save our earth’s resources! When it comes to fuel consumption, automobiles also takes a large percentage of this resource.In relation to this, the recent Hybrid cars also getting popular day by day. Fuel prices are rising and so is the demand for Hybrid cars. Recently HONDA CIVIC HYBRID is named as Car of year at USA car show. Famous models of Toyota are gaining importance in todays life, most favourites are :Toyota Prius, Lexus , Alphard and Estima Hybrid. If you wish to check more info on these cars, even for used Japanese cars selling of these brands, you may want to review www.nexusscars.com. Thank you so much for sharing and keep em coming! Have a nice day!