Gas prices hit a national average of $4 in the United States

Article by Christian A., on May 12, 2011

Sales of hybrids and fuel-efficient vehicles are expected to continue rising as according to the latest Lundberg Survey, the national average gas price has hit $4 per gallon level for the fist time since July 2008.

The prices reached the threshold three weeks before Memorial Day, which kicks off the summer driving season, a period when gas prices are at their highest for the year. The U.S. Department of Energy said that on July 7, 2008, the national average price of gas increased to a record high of $4.114 a gallon.

The US Department of Energy is expected to announce the results of its weekly survey of diesel and gasoline prices this Monday. While there’s a lot of uncertainty in the market, a big factor is the high price of crude oil.

However, the $4 gas has already been in effect in other regions. Chicago has the most expensive gas at $4.50 per gallon. Its price in the city has been higher than $4 since early April. Meanwhile, the gas at Tucson is the cheapest, at $3.62 per gallon.

It’s believed that the $4 level plays a major role in the way US consumers perceive their buying power. It also has an effect on car sales too.

Demand is high for vehicles that offer high fuel economy such as the Chevrolet Cruze and Ford Fiesta. The hybrid market has also been heating up. A recent Consumer Reports survey found out that 92% of drivers want their next car to have improved fuel economy.

Topics: united states

If you liked the article, share on:

Comments

Recommended

A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries