Gas hits national average of $4 for first time
NEW YORK (AP) - June 8, 2008 AAA and the Oil Price Information Service say the national
average price for a gallon of regular gas rose to $4.005 overnight
from $3.988. But consumers in many parts of the country have
already been paying well above that price for some time.
Gas is expected to keep climbing, putting greater pressure on
consumers and businesses, because the price of oil is soaring in
futures markets. Light, sweet crude shot up nearly $11 a barrel
Friday and approached $140 for the first time.
Along with higher fuel costs, consumers are also contending with
higher prices for food and other goods because of rising
transportation costs.
