Rising gas prices a concern for Toledo drivers
Tue, 21 Feb 2012 23:56:49 GMT —
Drivers in Northwest Ohio and Southeast Michigan are bracing themselves for $4 a gallon gas. Toledo resident Matthew Brown says the more he spends on gas takes away from buying groceries and paying bills. "I think it's totally ridiculous because it makes it difficult for anybody to get back and forth to work," Mr. Brown.
Dr. Gbenga Ajilore, Associate Professor of Economics at the University of Toledo, says $4 a gallon gas by spring is not unlikely. "As we know every year around Memorial Day prices go up and then go down on Labor Day, but the key is if prices are going up now when they historically don't go up, then when we do get that jump by Memorial Day, the prices could go to $4 or $4.25," Dr. Ajilore said.
According to the Lundberg Survey the nationwide average is $3.56. The highest price for a gallon of regular unleaded is in Hawaii($4.44). On the mainland Santa Barbara tops the list at $4.11. The lowest is in Denver at $3.01.