Saturday, February 18, 2012

Gas prices are highest ever for this time of year

NEW YORK -- Gasoline prices have never been higher this time of the year.


At $3.53 a gallon, prices are already up 25 cents since Jan. 1. And experts say they could reach a record $4.25 a gallon by late April.

"You're going to see a lot more staycations this year," says Michael Lynch, president of Strategic Energy & Economic Research. "When the price gets anywhere near $4, you really see people react."

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