By using this site, you agree to the Privacy Policy and Terms of Use.
Close X

Pain at the pump: 2012 hurt the most

NEED TO KNOW
  • GasBuddy: 2012 will be most expensive year ever for gas
  • Average price is 12 cents per gallon higher than last year
Pain at the pump: 2012 hurt the most

If you think filling up your car took a bigger-than-normal bite out of your wallet this year, you're right.

GasBuddy.com says the national average for 2012 so far is $3.63 a gallon. If that number holds up, it would easily surpass last year's average price of $3.51. And that's almost certain to happen.

"The national average price of gasoline in the U.S. would have to drop to $2.35 per gallon or lower for every day for the remainder of 2012 in order for the 2012 yearly average price to fall below last year’s level," GasBuddy senior petroleum analyst Patrick DeHaan said in a blog post.

Four easy ways to save on gas

GasBuddy is predicting a slight decline in gas prices leading up to Christmas. DeHaan says the national average could fall to as low as $3.25 by the holiday. That would still be a record high, though. By way of comparison, GasBuddy says the average price on Christmas last year was $3.24 a gallon. It was $3.03 on Christmas Day 2010, $2.60 in 2009 and $1.65 in 2008.

GasBuddy analyst Gregg Laskoski says the 2012 average price was driven up by supply problems in California during the summer, and flood damage and power outages at northeastern refineries caused by Superstorm Sandy.

According to AAA, today's national average price for a gallon of regular unleaded is $3.37.

 

 

Join the conversation...

HLNtv.com welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.
Apple Pay: No wallet? No cash? No problem!
Your Money | See all 835 items Apple Pay: No wallet? No cash? No problem!

Advertisement