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Gasoline jumps; miles driven in March drops, first time since '79

NEW YORK — As consumers began hitting the road Friday for the Memorial Day weekend, they faced the sobering reality that it costs $72 to fill a midsize Honda Accord, up $12 from last year, according to USA Today.

And in a sign that Americans are curbing their driving, data released Friday showed highway miles driven in March fell 4.3% from a year earlier, the first March decline since the late 1970s.

Gas prices took another jump overnight and are up nearly 20%, or 65 cents a gallon, over the past year to average nearly $3.88 a gallon nationally.

But unlike this time last year, when gas prices were at their peak for 2007, pump prices now show no signs of halting their daily assault on the record books.

Posted by Peter C. T. Elsworth  at 9:42 AM to Gas prices | Permalink

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