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Gas Prices May Hit All-Time High

Gas Prices May Hit All-Time High



Estimated read time: 1-2 minutes

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Andrew Adams, KSL NewsradioRecord numbers of people are expected to travel this year for Thanksgiving, but it could cost them a pretty penny.

AAA reports that Utah gas prices have risen 22 cents in the past month to an average of $3.03 per gallon. That's 60 cents higher than one year ago.

AAA also reports that Americans are spending a whopping $1.2 billion a day on gasoline; that's double the amount five years ago.

"Usually gas prices decrease in autumn," said Rolayne Fairclough, AAA Utah spokesperson. "This is not a typical year. The overall demand for gasoline has been flat compared to last year, but prices have skyrocketed this fall principally because of the record-setting price of crude oil."

The government's top energy forecaster predicts a 20-cent rise over the next couple of weeks.

Here in Salt Lake, Adam Smit doesn't like it, but he isn't surprised, either.

And it's not good news for Casey McNeal and his F-350. "It runs about $110. It's making quite an effect on my budget," he said.

Mark Schulz said, "If it goes much higher, it's going to make me think I'm going to have to start taking TRAX into work." And he drives an economy car!

Go to the related link to find the lowest gas prices according to AAA's Fuel Gauge Report.

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