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Title: $4 a Gallon Finally Becomes a Reality for U.S. View count: 2047 Rating: 5.0 (7 ratings) Description: SelectPlus$4 a Gallon Finally Becomes a Reality for U.S.$4 a Gallon Finally Becomes a Reality for U.S.The Associated PressThe average price of regular gas has crept up to $4 a gallon for the first time, hitting the once-unthinkable milestone just in time for the peak summer travel season. The jump was fueled by last week's surge in oil prices. (June 9)Soaring gas prices have hit another milestone...A new survey finds that for the first time the average cost of regular gasoline sits at 4 dollars a gallon....that's up nearly 20 cents in the past three weeks and 90 cents since the beginning of the year.The once-unthinkable milestone comes as the nation gears up for summer's peak travel season.Meaning pump prices will likely continue their climb.And for truckers the news is even worse --- Diesel fuel now sells at 4-76 a gallon . The jumps were fueled by last week's historic surge in oil prices ---- which are on the verge of eclipsing a 140 dollars a barrel.And experts say the weakened U.S. Dollar combined with fears of future supply -- stirred up by the possibility of an Israeli attack on Iran --- played a part in the price hike.All this has raised the prospect of accelerating inflation to an economy seeing a recent spike in unemployment and that many say is teetering on the edge of recession. ___ ___, The Associated Press. Tags: bc, oil-prices, $4, gallon, becomes, reality, u.s., Author: AssociatedPress |
