Drivers Start To Cut Back On Gas As Prices Rise 4-11-2011 - WNEM TV 5

Drivers Start To Cut Back On Gas As Prices Rise 4-11-2011

Fuel prices throughout much of Mid-Michigan just jumped 25 cents to average $3.99 for a gallon of unleaded.
And with the price of gas above $3.50 a gallon in nearly the entire country, there are signs that Americans are cutting back on driving.
For five consecutive weeks, Americans have bought less gas than they did a year earlier, according to MasterCard Spending Pulse, which tracks the volume of gas sold at 140,000 service stations nationwide.
For the week of April 1, drivers bought about 2.4 million fewer gallons than they did one year earlier, or 3.6 percent. That was the biggest decline since December, when people were staying home because of snowstorms.
Gasoline pump prices continued to push to the highest levels ever for this time of year. A gallon of unleaded regular costs $3.77 on average, and only Wyoming has an average lower than $3.50. Most analysts are sticking to forecasts of a high of $4 a gallon, though some have predicted $5 gas by Memorial Day.
Gasoline is already above $4 per gallon in California, Hawaii and Alaska. It's closing in on the $4 mark in Connecticut, Washington, D.C., Illinois and New York.

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This year, gas prices have shot up as unrest in North Africa and the Middle East rattled energy markets. Oil settled Monday at $109.39, down 91 cents for the day.
AAA Michigan says gasoline prices are up 11 cents per gallon over the past week to a statewide average of $3.86.
The auto club says Monday the statewide average is about 96 cents per gallon higher than last year at this time.
Of the cities it surveys, AAA Michigan says the cheapest price for self-serve regular fuel is in the Lansing area, where it's $3.77 a gallon. The highest average can be found in the Ann Arbor area at $3.89.
The price of gasoline in the Tri-Cities hit a peak of $4.20 per gallon in July 2008.
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