According to the AAA's Daily Fuel Guage Report gas prices have passed the $3 mark and currently stand at $3.04. That number is actually down a penny from yesterday. But there is a lot of difference in the price from city to city and even from station to station. For example, AtlantaGasPrices.com shows gas prices in Atlanta ranging from $2.62 to $3.42. New York, where gas prices have jumped passed the $3.40 mark, has prices ranging from $3.09 to $3.89 according to NewYorkGasPrices.com. A USA Todayarticle says that because some refineries are offline experts are concerned that gas prices will rise in the coming months.
Despite the steps by industrialized nations to avert a fuel shortage, analysts warn that long lines at U.S. gasoline pumps and record prices could augur higher oil costs in the months ahead.
"With nearly three months to go until the end of the Atlantic hurricane season, which peaks between mid-September and mid-October, more storms — both real and metaphorical — could be on the horizon," Energy Intelligence says on its Web site.
Energy analyst Orrin Middleton of Barclays Capital in London says the price relief was likely temporary because of concerns about refinery capacities.
"The huge rally we got last week shows that it's a product more than a crude problem," he says. "I don't think further OPEC crude is going to alleviate the refinery problem."
