3-8-05 – Gasoline prices are on the rise, increasing by nearly seven cents a gallon in two weeks. Analysts say prices will climb higher in the coming weeks and months, peaking at $2.25 a gallon by the 4th of July.
Spring breakers at local gas stations are already feeling some pain at the pump. In Sherman, the average price of a gallon of regular self-serve is $1.91. In Oklahoma, expect to pay about $1.89 a gallon.
An increase in demand overseas is pushing the price of crude oil past $53 a barrel.
The cheapest gasoline in the U.S. could be found in South Carolina. Drivers are paying about $1.76 a gallon in Charleston. In Los Angeles, a gallon of gas costs $2.22.