Gas Prices Near All-Time High

By: Associated Press
By: Associated Press

Gasoline prices are just below an all-time high in northern Nevada, and experts think they'll break the record by the Labor Day weekend.

The average price for a gallon of unleaded gas Friday at about 150 Reno-area service stations was $2.018, within a half cent of the record $2.023 set on March 27, AAA Nevada reported.

No updated figures were available Saturday.

The average was $1.75 on Aug. 13 and $1.83 on Monday. The national average is $1.65.

"At this point, gas prices have been going up every day, "AAA spokeswoman Lisa Foster told the Reno Gazette-Journal. "With Labor Day coming up next weekend, it could go past (the all-time high)."

Peter Krueger of the Nevada Petroleum Marketers Association said he expects costs to level off the Thursday and Friday after Labor Day weekend.

But he doesn't expect the average price to fall below $1.75.

He attributed the surge in part to a general uncertainty about the economy and last week's Las Vegas floods that closed a pipeline from California.

"I do think people are topping off their tank more often than normal," Krueger said. "That created more demand, and therefore more uncertainty."

Foster said there's no consenus on what's causing the spike. It's a combination of factors, including the rising price of crude oil and a broken pipeline 800 miles away in Arizona, she said.

Reno waitress Erin Jones, 23, said she has come up with a solution to the problem.

"I'm moving to a new apartment closer to work, partly because of the gas prices," she said after filling her truck up with $60 in gasoline. Her truck gets about 15 miles to the gallon.


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