Gas Prices Rise Across US as Holidays Approach

[xtypo_dropcap]T[/xtypo_dropcap]he price of gasoline has risen across the American Midwest to an average of $2.96 per gallon, as the Christmas holiday approaches.

Gas prices have been steadily rising across the United States over the last few years. Ten years ago, prices were sitting at around $1 per gallon, and by 2004, it had doubled, before doubling again in the summer of 2008.

With the price of crude oil reaching $89.19 a barrel late this week, many are predicting that gasoline prices will edge past $3 per gallon. This is the highest since 2008, at a time when people are on the road visiting relatives and buying presents for loved ones.

Spokespeople for the AAA Midwest have given varied reasons for the recent hike, from a weakening U.S. dollar and increased heating demands, to a strengthening European economy.

Lon Anderson, a spokesman for AAA Mid-Atlantic, told the Washington Examiner that recent positive news on the retail- and home-sales front was also a major factor in the increase, as upbeat economic data can portend an increase in energy demand and consumption.