Md. gas prices up 16 cents since Oct. 1
Maryland gas prices, which remained stable through most of the summer and into September, have jumped 16 cents since the beginning of October to a statewide average of $2.79 for a gallon of unleaded, AAA Mid-Atlantic reports.
The increase is steeper that the 14-cent rise reported nationally since Oct. 1, though Maryland prices still lag the U.S. average by 4 cents.
According to AAA, the gas price increase has tracked the rise in the price of crude oil on world markets to more than $80 a barrel. AAA also called the recent weakness of the dollar "perhaps the strongest factor contributing to recent growth."
Ragina Averella, Maryland spokeswoman for AAA Mid-Atlantic, said prices in the state peaked at $2.90 on May 6. But fears that Marylanders would see a return of $3-a-gallon gas didn't materialize -- except in certain high-price markets -- and prices fell to as low as $2.58 around Labor Day.
Friday's $2.79 average was 34 cents higher than a year ago, but $1.28 behind the levels of this time in 2008, when prices broke through the $4 barrier.
Averella said most oil industry analysts do not expect to see dramatic increases over the rest of the year -- "barring any significant events."
Comments
How foolish this do-nothing Congress sits helplessly and watches Big Oil drain our wallets. When does this nonsense end?? Clean out Congress in November!!!!
Posted by: steveinboston | October 15, 2010 12:36 PM
Not only does Big Oil drain our wallets, but Congress sits idly and doesn't do anything help financially struggling seniors by not giving a COLA for the second straight year.
Yes, everyone in Congress should go, vote them out now.
Posted by: irene | October 15, 2010 12:55 PM
With all due respect, Steve - the group that stands to take over after voters potentially "clean out Congress in November" aren't going to regulate Big Oil. Quite the contrary - the Republican ideology is built on principles of individual responsibility, which is really just a fancy way of saying "live and let live". Expect to see far less oversight, not more.
On topic, the higher oil prices have temporarily created a less wasteful driver base - but this won't last as we become accustomed to the increased cost of driving. The reliance on automobile travel in daily life is a uniquely American trait. Because of this, as a nation, we should truly be the vanguard of alternative fuel innovation - then it wouldn't matter how much a barrel of decomposed dinosaur detritus costs, or who was selling it.
Posted by: Chris | October 15, 2010 1:41 PM
Big Oil has nothing to do with this. The price increases are due to the purchase price of oil, driven by worldwide markets and a weakening dollar. Looking for someone to blame? Look to those who's policies are allowing the continued de-valuing of the US dollar.
These are the beginning signs of inflation.
Posted by: BKeyser | October 15, 2010 2:55 PM
They do not care. They have been bought and paid for over the years many times over. The big companies are going to sit back because they know their ole cronies are going to get voted out and they will have to wait awhile to see who they think they can be buyout. So why not wait until after the November elections before they start rocking the boat. Then we will see if their are any true statesman or just more false politicians. Are they in it for the people or the pocketbook
Posted by: Robert | October 15, 2010 3:21 PM
I, for one, am delighted to know gas prices are going up. A bicycle is my primary form of transportation, and I've got some money invested in the oil market, so I stand to gain on two fronts--more cyclists on the road and more money in my wallet!
Over time, gas prices are only heading one direction--do you want to be buying gas or selling it?
Posted by: John | October 15, 2010 8:20 PM