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Happy New Year? Gas Price Bumps Beyond Tax PDF Print
Written by Steve Frank   
Monday, 09 January 2012 07:08

The start of 2012 came in with the highest gas prices ever for a New Years. However, most of us were relieved that the prices had dropped from the May peak of 2011, and most of us were aware that NC drivers would face a 4-cent increase thanks to a bump in the gas tax, and the feds adjusted ethanol prices dumping in another 4-cent bump with January 1st. But after setting a record to start the New Year, gas prices have continued going up. AAA says that after starting the year at $3.28, the national average for regular unleaded went up another nine cents to $3.37 a gallon. The national average for self-serve regular was $3.51 last year, the highest annual average ever. AAA says that many oil industry analysts are predicting that there will be a surplus of gas supplies, which could lead to gas prices dropping under $3 a gallon in the second half of this year. However, a natural disaster or continued tensions in the Middle East could cause prices to spike even higher.

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