The turbulence continuing in the Middle East and in North Africa has caused U.S. gasoline prices to skyrocket over the past few weeks. According to an article in The Eagle Tribune, regular gasoline has gone up nearly 20 cents in Massachusetts since the political protests began abroad and soon spread to other surrounding countries. The price for regular gas per gallon is now averaging about $3.30 in the Commonwealth with no end in sight, making it quite a painful experience to fill up the tank, especially for those who drive SUVs.
The national average for a gallon of regular gas is $3.36, compared with $2.70 a year ago. The highest average recorded on the national level was in July of 2008, with regular gas at a staggering $4.11 for a gallon. As of now, the price of a barrel of crude oil is about $100. If it reaches $120 a barrel, the price we pay at the pump could jump up to $4 per gallon.
Local economists and professors report that it’s too early to tell how much we’ll be paying over the next few months, but if the unrest continues abroad, drivers here and around the country will only be going out when they need to and rather than whenever they want to.
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