It does not take much to notice the sudden spike in gasoline prices once again. According to the AAA, the five-county Philadelphia area gas average now stands at $3.74.
But we’re not the worst. Gas prices hit $4 a gallon in NYC. In Connecticut, prices hit $4 after jumping 20 cents -- in only one week.
I spoke to some area residents at the Wawa on Rt. 100 in North Coventry. “The price jumped since yesterday” said Nicole from Malvern. “All we do is just keep digging deeper in our pockets” she said. Richard from Pottstown shook his head. “What a racket – the whole world is going down the tubes.”
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Oil futures are up 5 percent to $4.72 a barrel since the protests that toppled Egyptian President Mohammed Morsi. In just four weeks, oil futures have climbed 15 percent.
With the current political turmoil and peak summer driving, expect the prices to climb further.
