- Prison Planet.com - http://www.prisonplanet.com -
Gasoline cost to jump $700 for average household
Posted By admin On March 10, 2011 @ 5:37 am In Money Watch | Comments Disabled
March 10, 2011
U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump, and yearly motor fuel costs will rise 28 percent from last year, the Energy Department said on Wednesday.
The average U.S. household will spend about $700 more for gasoline in 2011 than it spent last year, bringing total motor fuel expenses up 28 percent to $3,235, based on an annual pump price of $3.61 a gallon, the department’s Energy Information Administration said.
Retail gasoline prices soared by 38 cents over the last three weeks to $3.52 per gallon, according to the EIA, because of high crude oil costs due to unrest in the Middle East.
“Because the pass-through of changes in wholesale gasoline prices to the retail level is lagged, pump prices would be expected to rise a further 10 cents per gallon to fully reflect the current wholesale price level even without considering any future wholesale price movements,” the EIA said in its weekly review of the oil market.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/gasoline-cost-to-jump-700-for-average-household.html
URLs in this post:
 Reuters: http://www.reuters.com/article/2011/03/09/us-usa-gasoline-price-idUSTRE7286IO20110309
 Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/
 Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC35/PR
 Gasoline Prices More than Double Under Obama: $1.84 to $3.85: http://www.prisonplanet.com/gasoline-prices-more-than-double-under-obama-1-84-to-3-85.html
 Average Gasoline Price Jumps To Highest In 5 Months: http://www.prisonplanet.com/average-gasoline-price-jumps-to-highest-in-5-months.html
 Gas prices hit $4 per gallon average across U.S.: http://www.prisonplanet.com/gas-prices-hit-4-per-gallon-average-across-u-s.html
 Price Shock: Watch Cost of Gas Jump 10 Cents During ABC’s ‘World News’ Broadcast: http://www.prisonplanet.com/price-shock-watch-cost-of-gas-jump-10-cents-during-abc%e2%80%99s-%e2%80%98world-news%e2%80%99-broadcast.html
 Oil Falls to 19-Month Low, Gasoline Tumbles, on Demand Outlook: http://www.prisonplanet.com/oil-falls-to-19-month-low-gasoline-tumbles-on-demand-outlook.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.