Why is gasoline getting more expensive?

Read an interesting article from CNN this morning regarding potential gas prices to reach $3 by Christmas. All U.S. motorists could see gas prices exceeding $3 per gallon if they have not witnessed such prices already, according to the new survey of filling stations.

The Lundberg Survey of cities estimated the nations average price per gallon of self-serve unleaded gasoline is $2.91, an increase of 3.9 cents from a survey conducted not even two weeks prior.

Why is there a sudden rise in the price of gasoline? According to Lundberg Survey, it is based on the necessity for gas retailers to reflect an increase in the wholesale price of gas at the pump. Retailers will have to raise prices at the pump.

Gas prices in this survey were nearly 28 cents higher than in December a year ago.

The Lundberg Survey sampled 2,500 different gas stations, the average highest was found in Long Island, New York at $3.21 per gallon.

Miami, Florida: averaged $2.96

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