Statewide average gas price goes past $4
The average price of a gallon of regular gasoline in Maryland broke the $4 mark today for the first time since 2008 and only the second time in history.
AAA reported that the statewide average jumped almost 3 cents -- from $3.977 to $4.005 -- overnight after a few days of modest declines.
The increase came despite signs last week that the run-up in gas prices since last September may be approaching a peak. Crude oil prices, the single biggest component in the cost of gas, took a tumble last week on world markets, but it can often take several weeks for such changes to appear at the pump.
By now, $4 gas is old news to many Marylanders who fuel up in more expensive zones of the Baltimore metropolitan area. But there are still many stations around the city that have so far held the line below the psychologically daunting $4 mark.
Wednesday's price is still a few cents below the $4.05 record sent in June 2008. A year ago, the average Maryland price was more than $1 less -- $2. 882.