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Pain at the Pump: Gas Prices Highest Since October 2008

By  Lindsay William-Ross
Published May 8, 2010 12:00 AM
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Gasoline prices today have hit their highest point since October 26th, 2008 according to cbs2.com. "A 1.3-cent increase pushed the average price to $3.156, 4 cents more than a week ago, and 77.8 cents more than this time last year, according to figures from the AAA and Oil Price Information Service." Down in Orange County, the average price of a gallon of gas "rose nine-tenths of a cent Saturday to $3.143, one day after falling 1.3 cents." What is causing the costs to soar upward again? A representative from the Automobile Club of Southern California attributes the rise to "recent increases in the price of crude oil."