American drivers are paying an average of $4 a gallon of gasoline for the first time in U.S history as of this Sunday according to the motorist group AAA and the Oil Price Information Service. The national average price for a gallon of regular gas rose to $4.005 overnight from $3.988, but many of us have already been paying well above that price for some time now – we for example paid $4.08 yesterday afternoon in Unfortunately, that’s not the end of it as crude oil prices shot up nearly $11 a barrel Friday and approached $140 for the first time ever. In a statement issued Friday, the AAA attempted (unsuccessfully) to persuade gasoline station owners not to overreact to the single-day oil spike. "Consumers should not be overcharged for gasoline simply because the oil markets reacted so strongly to today's news," AAA said.
