Summer gas prices on the rise

In the past month, the average price for a gallon of regular unleaded has gone up by nearly 17 cents in metro Baton Rouge. The AAA Daily Fuel Gauge report says a gallon of regular unleaded now costs $2.12, compared with $1.95 a month ago. Nationwide, even bigger increases are reported. CNNMoney says a gallon of gas costs 20 cents more than it did two weeks ago. Officials with AAA and economists blame the rising prices on the fact that the peak summer driving season is just a few weeks away, and that crude oil prices have steadily been increasing. The good news is that gas prices are still about 41% lower than what they were in May 2008, when a gallon of gas cost about $3.59. And prices aren’t expected to go up much more because the worldwide recession has put a damper on demand and the high U.S. unemployment means there are fewer drivers. Troy Green, a spokesman for AAA, told CNNMoney he would be “surprised” to see gas prices hit $3.50 a gallon this summer, unless there was a significant supply disruption, like a major hurricane in the Gulf of Mexico. To see the state AAA fuel gauge report, click here.