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Cars Blog

Gasoline prices zip toward $3 mark

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January 11, 2010 1:12 pm
By Peter C. T. Elsworth

Gasoline prices on Monday continued their push toward $3 per gallon, according to The Associated Press. The only question now is when?

Prices have been jumping on the back of a strong oil market where the cost for a barrel has spiked 20 percent in the past month on the New York Mercantile Exchange.

Skyrocketing gasoline prices couldn't come at a worse time for motorists, who will see heating bills jump after the worst cold spell in years.

Oil prices are now about three times what they were a year ago.

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