Gas Prices Approach High Mark Set in 2006

by : RyanThomas



The American motoring public has always been wary of the price of gasoline. The awareness was the effect of the sky rocketing increase in the prices of gasoline in summer of last year. From then on, car buyers have opted for fuel efficient vehicles like hybrid electric models like the Toyota Prius.

It seems that the fear of the American motoring public at another increase in gas prices is well founded. This week, the price of gasoline in some parts of California and Hawaii has reached the dreaded three dollar mark. This season will likely lead to an increase in the prices of gasoline as the demand increases and the price of crude oil in the world market soar yet again.

Experts in the field say that motorists should be ready for more gas price hikes as crude oil is now traded at $60 per barrel in the world market. Other reasons that may affect the price of gasoline are refinery maintenance and the paranoia of a gas shortage when the spring season arrives. While the entire country is gripped with the fear of sky rocketing gas prices, the West Coast is singled out as the region where the effect of the oil shortage will be felt significantly.

According to Tom Kloza, who works as the chief oil analyst for the Oil Price Information Service: "The West Coast will certainly be the wild, wild, West this year." He also cited that the reason for the increase in the gas prices in the West Coast is the extensive maintenance work undertaken by West Coast refineries during this time of the year.

As for the rest of the country, Kloza has this to say: "In the rest of the country, it's just petro-noia. They're worried that they won't have enough gasoline. But on the West Coast, the concern might be warranted."

While the current price of gasoline is still below the high mark set last year, this does not mean that what happened last year would not happen again. The increase in the price of gasoline has started earlier than when it started its climb last year.

In Wailuku which is located on the Hawaiian island of Maui, the rice of regular unleaded gasoline is at $3.20. On the mainland meanwhile, the highest per gallon price of gasoline is in San Francisco where a gallon of gasoline costs at an average of $3.10.

For those who have switched to hybrid cars, the increasing price of gasoline may be a little bit less troubling. But just like a that protects the CV joint from foreign materials, a person driving a hybrid electric vehicle is shielded from the increasing gas prices.