Gas prices are exploding and there’s no end in sight.
Triple-A finds the national average price for regular at three dollars and 87 cents a gallon, up an average of eleven cents overnight. Prices are now more than 40 cents higher than a month ago.
Increasing demand, falling domestic gasoline stocks, and skyrocketing crude oil prices are driving the runaway prices. U.S. crude oil is selling for more than 110 dollars a barrel.
Analysts are warning Americans to prepare to pay $5 per gallon of gas soon.
Source: CBS Detroit