According to the U.S. Energy Information Administration’s (EIA) weekly survey, the highest retail price for regular grade gasoline in the United States was $4.11 per gallon on July 7, 2008. On the week of 07/14/2008, the highest diesel retail price hit at $4.764 per gallon.
When gas prices start to rise, consumers certainly take note. However, although many consumer express frustration over high gas prices, and even attempt to pin the blame, most people have very little idea of how these prices come about.
Check out the factors that determine the price consumers pay at the pump at Investopedia.com.
Want to save up to 20% or more on the cost of gas? Check out 10 simple gas saving tips from the Consumer Federation of America at Goodhousekeeping.com.