Cheap gas is history, again

Americans feel the squeeze of higher pump prices, although there’s little chance of a repeat of last summer’s record.

The days of cheap gas are retreating into the rearview mirror, as prices continue to roll uphill, flirting with the $2-per-gallon mark.
The national average price for a gallon of unleaded gasoline reached $1.952 Thursday, according to the motorist group AAA. This is bad news for the growing ranks of jobless Americans, who are pinching pennies and looking for ways to cut costs.

The current price would have been welcomed by summertime drivers, because it’s less than half the all-time high of $4.114 per gallon, achieved last July 17.

But since gas prices slumped to a low of $1.616 per gallon on Dec. 30, they’ve jumped more than 20%. At their current rate, prices could easily eclipse $2 per gallon by early next week.

CNN