George S. Patton Party
- May 24, 2009
- Reaction score
Gasoline close to record high before Labor Day
NEW YORK Gasoline is near the highest it's ever been for this time of year, just ahead of the Labor Day weekend.
The run-up in oil prices this year, combined with a rash of refining problems throughout the U.S., has boosted pump prices. The national average on Thursday is $3.629 per gallon. Drivers will pay more for gasoline this Sept. 1 than in any other year except 2008, when pump prices hit an average of $3.686.
Prices are rising despite a drop in U.S. gasoline purchases. Americans may be using less, but drivers in developing nations are using more. That's pushing fuel prices higher around the world.
Benchmark oil rose 4 cents to $88.85 per barrel in New York, while Brent crude lost 15 cents at $114.70 in London.