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Feeling The Pinch At The Pump

Gas Prices Rise

POSTED: 9:01 pm MDT June 10, 2009
UPDATED: 11:39 am MDT June 11, 2009

As the temperature begins to rise so do the gas prices. Just in time for summer driving.

At a time when money is not abundant for many, it's hitting drivers where it hurts the most.

"It is a matter of lunch or gas at this point, or heat and my public service," said Donna Nash. "Gas is getting up there."

According to AAA, the average price of a gallon of gasoline is $2.63.

"Gas prices tend to creep up starting Memorial Day, through the season and cap out at some point in August or September," said Stan Dempsey, of the Colorado Petroleum Association. "People drive more in the summer and particularly in a recession; people are driving more than they are flying."

On Wednesday, the Energy Information Association predicted prices would reach $2.70 in July. In mid-May the organization had forecast that prices would top out around $2.21.

The jump in fuel prices comes on the back of a 50 percent spike in crude prices since the start of the year. Crude oil closed above $70 a barrel on Tuesday for the first time since November.

"It is still better than last summer," said Tricia Stone.

According to AAA, gas prices last summer topped out above $4. In Colorado, the average price of gasoline Wednesday was $2.53.
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