May 18th, 2009
10:44 AM ET

Financial Dispatch: Pain at the Pump redux

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Gene Bloch
Managing Editor
CNN New York

The upward creep in gas prices is not letting up. AAA reports the national average price for a gallon of regular unleaded gasoline increased to $2.311, up 3 tenths of a cent from the previous day’s price. This is the twentieth consecutive increase. In the last twenty days the average price of gas has increased 26 cents or 12.8 percent. The average price however is down $1.80 or 43.8% from the record high price of $4.114 that AAA reported on July 17, 2008.

All 50 states and the District of Columbia have regular unleaded gas prices of $2 and higher.

The monthly Lundberg Survey reports that gas prices are up 25 cents in two weeks, biggest jump in more than a year, but Lundberg says the trend likely won’t continue.

Newsweek Editor Jon Meacham interviews Treasury Secretary Tim Geithner on "Recession and Recovery: The Road Ahead."

The 1p event at the National Press Club will be coming in live.

And Gerri Willis tells you how to get a real deal on a new car along with how to cut your banking fees and how to haggle for the best deals in this tough economy.

On CNNMoney today:


* The myth of shareholder value. Making investors happy isn't so dumb. Using today's stock price to gauge success is.

* 3 signs the economy is on the mend


* Hollywood's scrap men. These resellers of DVDs, CDs and books make millions from the media industry's leftovers.

soundoff (7 Responses)
  1. terry

    I think we are still paying for the exon valdez payout.

    May 18, 2009 at 7:34 pm |
  2. Darlene

    Well said Rod.

    May 18, 2009 at 1:43 pm |
  3. rod

    oil slickers
    no matter what the spin on the subject, the big oil companies will refuse to acknowledge any wrongdoing or any culpability in their criminal approach to price fixing... their laughable explanations spouted by paid mouths of the industry is only trumped by the assinine reporting that refuses to look beyond the smear of black oil rubbed on their backsides ... the cowardice of both the big oil men and free press is matched only by the haze of effluence blasted by the governments of the oil producing nations where they claim no irregularities have ever been found.

    May 18, 2009 at 1:05 pm |
  4. GF, Los Angeles

    Gas is $2.51 here. I can't believe it was $2.39 less than 2 weeks ago.

    May 18, 2009 at 1:00 pm |
  5. stacy

    Gas in my neck of the woods is $2.35. Sucks to be in PA I guess.

    May 18, 2009 at 12:48 pm |
  6. Scott Stodden

    Im thinking Anderson that the gas prices are so high because of the upcoming Memorial Day holiday weekend, I hate that the prices are going up, haven't we paid enough at the pump?

    May 18, 2009 at 11:55 am |
  7. Cindy

    Our gas here costs $2.09 and I thought that was high. Thank God we are way lower than everyone else. I hope it stays that way!


    May 18, 2009 at 11:26 am |