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$7 Gas Coming: Tipping Point for Public Transit, Bicycles & Alternative Cars?
Now the predictions are really getting people's attention: "Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday," MarketWatch said early this afternoon.
Currently, U.S. oil is $116 a barrel, down $3.90 from Tuesday's "historic high." The national average is $3.56 and in Los Angeles, the upward trend pushes the local average to nearly $3.85.
Photo of a Downtown LA gas station last Friday by Zach Behrens/LAist
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Your support for independent local news is critical. With federal funding for public media gone, LAist faces a $1.7 million yearly shortfall. Speaking frankly, how much reader support we receive now will determine the strength of this reliable source of local information now and for years to come.
This work is only possible with community support. Every investigation, service guide, and story is made possible by people like you who believe that local news is a public good and that everyone deserves access to trustworthy local information.
That’s why we’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Thank you for understanding how essential it is to have an informed community and standing up for free press.
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