Finance

Pump Prices Continue to Climb

Posted: 7:54 AM Mar 19, 2012
Reporter: Associated Press

WASHINGTON (AP) -- Gas prices are continuing their climb.

The auto club AAA says the national average price for regular grade gasoline reached $3.83 per gallon Friday, up 7 cents in the last week.

Prices remain 31 cents higher than a month ago, 28 cents higher than a year ago and within 28 cents of the all-time record high of $4.11 per gallon set in July 2008.

Analysts expect the upward trend to continue through mid-May, potentially climbing as high as $4.25 per gallon nationally before retreating.

John Townsend of AAA Mid-Atlantic says gas prices are heading into spring at the highest level ever to start the season, which he calls "unsettling news for motorists as the typical peak driving season approaches."