Gas prices expected to continue their climb |

Gas prices expected to continue their climb

01:00 AM EDT on Tuesday, June 10, 2008


Journal staff and wire reports

The average price of gasoline in Rhode Island rose 8 cents from last week, setting another record high. The average price of regular, self-serve gas was $4.099 a gallon yesterday, according to a survey of local stations by the state’s Office of Energy Resources. It surpassed last week’s average price of $4.019 a gallon, to set another record.

The average price is now $1.07 more than it was one year ago.

And energy experts are predicting that additional price increases are right around the corner.

Meanwhile, heating oil in Rhode Island jumped 13 cents a gallon to $4.629, also a new record high, according to the Energy Office.

Nationally, the average price of regular gasoline reached a record $4.005 a gallon yesterday, up 28 percent from $3.119 a year earlier, AAA, the nation’s largest motoring club, said yesterday. Gasoline futures traded at $3.521 a gallon in New York yesterday after reaching a record $3.565 on June 6.

“There has never been a price like this,” industry analyst Trilby Lundberg said in an interview yesterday.


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