Looks like 2008

This past week the national average gas price has hit $3.79 per gallon. California and Hawaii crossed the $4 mark weeks ago. All this is reminiscent of early 2008 as the coming election loomed and rising gas prices led to an influx of stolen gas and growing concern. Luckily, with the election of 2008, gas prices plummeted to under $2, a welcome ease to American wallets. What has caused this recent spike? According to an article by CNN reporter Ben Rooney, a major factor is the price of oil in general, which tends to rise around this time of year anyway, in correspondence with peak driving seasons. The Energy Information Administration (EIA) predicted in their April short-term energy outlook that the national average gas price would reach $3.86 this summer. Though that sounds better than the looming $4 average being discussed, it's still a 40% increase from last summer. At this point, Utah comes in around the national average. Hopefully with the next election coming next year, we will see another drop in price. These recent developments raise the question of whether we should drill in Alaska. I say: yes. Let's cut our dependence on foreign oil and use our natural resources to boost our economy. Until then, Americans will have to rework their budget to fit in their rising expenses.

http://money.cnn.com/2011/04/12/news/economy/gas_prices/index.htm

by Marcus Lancaster