A surprise surge in gasoline prices is taking some of the fun out of summer.
The national average for a gallon of gas at the pump has climbed to $3.67, a rise of 34 cents since July
1. An increase in crude oil prices and problems with refineries and pipelines in the West Coast and Midwest, including a fire in California, are mostly to blame.
Analysts don't expect gas prices to get as high as they did in April, when 10 states passed $4 a gallon and the U.S. average topped out at $3.94. But this is still unwelcome news in this sluggish economy, since any extra money that goes to fill gas tanks doesn't get spent on movies and dinners out.
The rising prices should put pressure on President Barack Obama in the heat of his re-election campaign. (Drill, Drill, Drill)
(Excerpt) Read more at msnbc.msn.com ...
