Rising gas prices hit drivers nationwide

Consumers get squeezed as pump prices rise for 50 days in a row. Prices now average at least $2.50 a gallon in 49 states.

NEW YORK (CNNMoney.com) — Gas prices have risen for 50 days in a row and the pain at the pump is taking a toll on household budgets across the nation.

Nationwide, gas prices now average $2.679, motorist group AAA said Wednesday. Prices have risen every day since April 29, when the national average stood at $2.05 a gallon.

Drivers in every U.S. state, with the exception of South Carolina, now pay an average of at least $2.50 a gallon. In the Palmetto State, gas averages $2.49 a gallon.

The runup in gas prices comes at a time when drivers are already struggling with record high unemployment and an abysmal housing market.

“The rise is gas prices is putting a large dent into our household budget at a time when we are already feeling some pain,” said Michael Clark, a technologies business analyst in Phoenix.

Clark, who said prices at his local station have gone up more than 90 cents since May, was recently asked by his employer to accept a 15% pay cut.

“I do not understand how the stock market can be up and the price of oil rising when everybody I know is hurting so badly,” he said.

CNN