CONSUMER ALERT: More Drivers Than Ever May Pay $5 Per Gallon - Spokane, North Idaho News & Weather KHQ.com

CONSUMER ALERT: More Drivers Than Ever May Pay $5 Per Gallon

USATODAY.COM - More drivers than ever could soon be paying $5 for a gallon of gasoline. And the national average, up sharply in recent weeks, is likely to top out at about $4.

Rising oil prices, lower refining capacity, Middle East tension and speculators are propelling prices. The spike in crude, now at nine-month highs, has driven regular gas to a record February high of $3.65 a gallon — up 42 cents over a year ago.

Motorists along both coasts are paying more: an average $4.20 in California and $3.91 a gallon in New York. Prices along both coasts and other regions could continue to climb far higher. Fallout from a recent fire that's shuttered a major Washington state refinery could push regional prices up to 20 cents a gallon this weekend. says Patrick DeHaan, an analyst with price tracker gasbuddy.com.

Taxes, shipping and regional formulations make gas even pricier in some regions.

Florida drivers are paying $5.89 a gallon near Disney World, while gas at some Chicago, San Francisco and Los Angeles stations is up to $4.85.

"I don't foresee any situation — even a worsening crisis in Iran — that results in $5 a gallon gas nationally," said Patrick DeHaan of price-tracker gasbuddy.com. "You're going to see hot spots … that push prices towards $5, but the national range will be $3.75 to $4.15." We don't see a scenario for a national average higher than that for any length of time."

Typically, prices climb through Memorial Day. Increased pain at the pump is already heightening fears that consumer spending will slow, derailing the economic recovery. Prices hit a record $4.11 a gallon in July 2008 and peaked last year at about $3.98.

Hoping to ease griping over a hot button issue in an election year, President Obama said Thursday that there are no quick, easy fixes and ridiculed any Republican plan for "$2 gas."  click here to read the full article

  • Most Popular StoriesMost Popular StoriesMore>>

  • The Latest: Government shutting down amid partisan standoff

    The Latest: Government shutting down amid partisan standoff

    Saturday, January 20 2018 12:54 AM EST2018-01-20 05:54:47 GMT

    WASHINGTON (AP) - The Latest on the budget battle in Congress (all times local): 12 midnight  The U.S. government shut down at midnight after Congress failed to resolve a partisan standoff over immigration and spending. In a late-night vote, Senate Democrats joined to block a bill that would have kept the government running for another four weeks. A flurry of last-minute negotiations failed to beat the deadline. Democrats have tried to use the F...

    >>

    WASHINGTON (AP) - The Latest on the budget battle in Congress (all times local): 12 midnight  The U.S. government shut down at midnight after Congress failed to resolve a partisan standoff over immigration and spending. In a late-night vote, Senate Democrats joined to block a bill that would have kept the government running for another four weeks. A flurry of last-minute negotiations failed to beat the deadline. Democrats have tried to use the F...

    >>
  • The forgotten fallout shelter: An inside look underneath one of Spokane’s oldest buildings

    The forgotten fallout shelter: An inside look underneath one of Spokane’s oldest buildings

    Friday, January 19 2018 9:44 PM EST2018-01-20 02:44:17 GMT

    SPOKANE, Wash. - Cobwebs hang from the exposed pipes running along the ceiling of a dimly lit, dirty basement. The underground labyrinth is used as storage space at Mount Saint Michael’s Academy in Spokane. But several decades ago it served as a safe haven. During the Cold War, the Office of Civil Defense designated the basement at Saint Michael’s as one of hundreds of fallout shelters throughout the city. 

    >>

    SPOKANE, Wash. - Cobwebs hang from the exposed pipes running along the ceiling of a dimly lit, dirty basement. The underground labyrinth is used as storage space at Mount Saint Michael’s Academy in Spokane. But several decades ago it served as a safe haven. During the Cold War, the Office of Civil Defense designated the basement at Saint Michael’s as one of hundreds of fallout shelters throughout the city. 

    >>
  • EBT Cards And Social Security During Government Shutdown

    EBT Cards And Social Security During Government Shutdown

    Tuesday marks the eighth day of the government shutdown, and there's still no deal made on Capitol Hill.>>
    Tuesday marks the eighth day of the government shutdown, and there's still no deal made on Capitol Hill. Some federal employees are back to work but 500,000 are still furloughed. All non-essential government offices have been closed for a week now. But House Democrats and Republicans are still no closer to making a compromise.>>
HD DOPPLER 6i
/