Turmoil in Iraq is pushing up US gasoline prices
Source: AP-EXCITE
By JONATHAN FAHEY
Violence in Iraq is pushing U.S. gasoline prices higher, depriving drivers of the usual price break between Memorial Day and July Fourth.
The national average price of $3.68 per gallon is the highest price for this time of year since 2008, the year gasoline hit its all-time high.
The good news is that gasoline is not likely to spike above $4 as it did 6 years ago. Or even cross $3.90, as in 2011 and 2012.
"You are going to pay a little more than we thought you were going to pay," says Tom Kloza, chief oil analyst at the Oil Price Information Service and GasBuddy.com. "But you are not going to see any apocalyptic numbers."
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Read more: http://apnews.excite.com/article/20140619/us-iraq-gasoline-prices-5a4c25962c.html
In this Wednesday, June 4, 2014 photo, Marty Mascio of Pembroke Pines, Fla., selects a grade of gasoline as he fills up his car at a Chevron station in Pembroke Pines. Violence in Iraq is pushing U.S. gasoline prices higher during a time of year they usually decline. The national average price of $3.67 per gallon is the highest price for this time of year since 2008, the year gasoline hit its all-time high. (AP Photo/Wilfredo Lee)
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