Reporting Joe Shortsleeve
BOSTON (CBS) – Tensions in the Middle East and the increasing demand of summer driving season have combined to drive the price of a barrel of oil past the $100 mark, leading to increases for motorists at the gasoline pumps.
“I am looking at the numbers right now I am shocked.”
Jimmy King could not believe the gas prices at the Shell Station on Massachusetts Avenue in Boston’s South End.
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At $4.19 a gallon, it appears to be the most expensive gas in the Boston area. And if you pay with a credit card it is $4.31 a gallon.
King never bought gas, he just drove away after talking to us.
Others did not.
“What do you think about gas prices?”
“They are really high. I am only filling up now because I don’t have enough gas to get home.”
Experts say tensions in Egypt are partly to blame for a spike in gas prices. John Paul a spokesperson for American Automobile Association says prices jumped 14 cents a gallon in the past seven days but points out there are others factors at play as well.
Paul says, “We are right in the middle of peak summer driving season, a lot of people on the road and lot of people taking vacations, that tends to drive up prices anyway.”
If you are looking for what appears to be the cheapest gas in the Boston area, head to Medford, Malden or Woburn and look for stations by King Petroleum. In Medford, gas is still $3.37 a gallon.
Drivers were happy.
“That is why we are here today for the lowest prices.”
The manager says same thing. “Well they are actually happy when they find out is it the lowest price.”
Don’t expect any relief in the near future. Some analysts expect the national average could be $3.90 by the end of the week.
Typically prices will not reverse course until after Labor Day.
The range in prices in the latest AAA survey for unleaded regular is 37 cents, from a low of $3.48 to a high of $3.85. AAA advises motorists to shop around for the best prices in their area, and to make sure they and their passengers buckle up – every time.
Today’s local gas prices and their ranges are as follows:
- $3.62 ($3.48-$3.85) Regular Unleaded
- $3.71 ($3.59-$4.09) Midgrade Unleaded
- $3.90 ($3.71-$4.19) Premium Unleaded
- $3.88 ($3.69-$4.09) Diesel