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May 11, 2011

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.

 

Posted by Michael Dresser at 11:47 AM | | Comments (1)
Categories: On the roads
        

Comments

Let's see...oil is down about 7% this month, yet gas prices rise. Something is very wrong here...

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About Michael Dresser
Michael Dresser has been an editor, reporter and columnist with The Sun longer than Baltimore's had a subway. He's covered retailing, telecommunications, state politics and wine. Since 2004, he's been The Sun's transportation writer. He lives in Ellicott City with his wife and travel companion, Cindy.

His Getting There column appears on Mondays. Mike's blog will be a forum for all who are interested in highways, transit and other transportation issues affecting Baltimore, Maryland and the region.
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