Pain at the pump: Gas prices hit record highs
Tue, 04 Sep 2012 01:13:16 GMT —
Thanks to Hurricane Isaac, the national average price for gasoline has increased to $3.83 per gallon.
And that timing couldn't be worse for thousands across the country who planned to travel during Labor Day weekend. Some cancelled trips, while others chose to fork out the extra dough to get away for some R&R.
According to AAA, the national average price for a gallon of gas went up by nearly ten percent in August. Consumers are now paying 20 cents more per gallon than they did this time last year.
Some analysts are saying there is hope for cheaper prices, as many of the Gulf Coast refineries are gearing back up. And with cold weather approaching, cheaper winter blend gasoline is on its way. But many consumers are not convinced and are preparing for prices to continuing spiking.