High gas prices should keep setting records

By Peter Mucha, Inquirer Staff Writer
Posted: October 02, 2012

High gas prices have been on a record-setting streak that could continue through the end of the year, according to AAA.

"Motorists are frustrated nationwide because gas prices have not declined more than a few cents from summertime highs," said spokesman Avery Ash. "Despite an end to the busy driving season, record-low supplies are preventing drivers from catching much of a break."

Although the all-time record for a gallon of regular - $4.11, set in July 2008 - is likely to remain unchallenged, lots of other marks have fallen or could fall by year's end.

For example, today's $3.78 a gallon is the priciest for any Oct. 1, making it the 43d straight record for a date.

Although prices could continue to ease through Election Day, the string of daily records could persist through year's end, AAA estimates.

Last month was the priciest September ever, averaging $3.83 a gallon, breaking the old mark set in 2008 by 11 cents. One bright spot: The end of September was slightly cheaper than the end of August.

Finally, this year could be the most wallet-busting ever, averaging $3.64 a gallon so far, well ahead of last year's record average of $3.51.

Although 2008 had the historic high, prices also plummeted to below $1.50 a gallon by year's end, so bank accounts got a break.

For more on gas prices, see AAA's Daily Fuel Guage Report at http:www.fuelgaugereport.aaa.com.

Contact staff writer Peter Mucha at 215-854-4342 or pmucha@phillynews.com.

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