Motorists on pace to spend a record sum at the pump
The average price of a gallon of regular gasoline in the U.S. this year never reached the highs seen in 2008, when the all-time record of $4.114 was reached. The 2012 average never even climbed as high as it was last year, when it hit $3.965, according to the Energy Department.
But fuel prices have been so consistently high in 2012 that American motorists are on pace to spend more on gasoline this year – $483 billion, or $1.32 billion a day – than they ever have before, according to the Oil Price Information Service in New Jersey.
That would break the old record for the amount of money spent by Americans on gasoline, set last year, by about $12 billion. That’s in spite of the fact that the U.S. average topped out this year at $3.941 a gallon back in April.
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