Record Maryland gas prices? Not yet, says AAA
Maryland gas prices continue to flirt with an all-time record, but pulled back a little Friday.
According to AAA, the statewide average price of a gallon of regular, which had reached $4.04 Thursday, retreated to $4.034 Friday. The record, set in June 2008, is $4.053.
Prices had steadily climbed since September until beginning to flutter just shy of $4 last week. Then came flooding on the Mississippi River, which helped drive prices up by about 6 cents.
So have prices hit their high-water mark and started receding? Or is the market pausing for breath before a new assault on the summit? AAA's prediction is that prices will remain volatile over the next few weeks before sinking to the $3.25-$3.75 range. But such a decline could be delayed if a new crisis breaks out anywhere from the Persian Gulf to the Gulf of Mexico.
What seems almost inevitable is that after one of these spikes, $4 will become the new normal -- just as $3 gas did a few years ago. Who among us wouldn't welcome a sign saying $3.05 at our local gas station? Someday, unless there's a technological game-changer, we'll likely feel the same about $4.05.
But not yet.