Gas prices spiked overnight Thursday by as much as 20 cents per gallon in parts of California, causing some stations to close and shocking many customers.
According to The Associated Press, the average price of regular gas across the state was nearly $4.49 a gallon. In other parts of the country, gas prices have fallen. South Carolina has the lowest average gas prices in the continental U.S. at $3.49 a gallon.
The world inside Mark Zandi's computer model feels pretty familiar. It's full of people who are worried about the economy. Their homes are being foreclosed on. They're paying more for gas. Something like 13 million of them can't find jobs.
Originally published on Wed September 5, 2012 11:49 am
Corn prices are going through the roof. The price of gasoline is rising again. Inflation, though, is still low.What's more, as Bloomberg notes today, investors are betting that inflation will remain low for years to come.
NPR's business news starts with an eye on oil prices.
Isaac is not expected to grow beyond a Category 1 hurricane and that is easing some concerns it could damage oil and gas refineries along the Gulf Coast. Still, several have shut down operations and will probably be offline for a couple days. Depending on Isaac's severity, analysts say gas prices could go up by about 10 cents or so in the coming weeks. Transcript provided by NPR, Copyright National Public Radio.