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• On June 6, 2009, the AAA reported that gas prices, after rising for the previous 39 days, had reached a national average of $2.606. Gas prices had not reached the level of the previous June's record of $4.086.CNN: Gas prices above $2.60

  Gas prices began to rebound in late 2008, and climbed 14% over the month of January, 2009. The average price of $1.855 per gallon was still 38% lower than January 2008.CNN: Gas prices: Up 14% for the month (January 31, 2009) Between September and December, 2008, prices had declined from historic highs established in June 2008, reaching a low of more than 37% from the spike in June.CNN Money: Gas Sinks to 3-Year Low (October 29, 2008)

• Fast Facts

  1. Prices began to increase again in late December 2008CNN: Gas prices: Up 14% for the month (January 31, 2009)
  2. Gas prices began declining consistently on September 17, 2008, average price became $2.589CNN Money: Gas Sinks to 3-Year Low (October 29, 2008)
  3. Gas prices rose 2.9% during the month of June in 2008CNN Money: Oil touches record but ends lower (June 30, 2008)
  4. Gas prices rose nearly 38% from June 2007 to June 2008CNN Money: Oil touches record but ends lower (June 30, 2008)
  5. Crude oil prices increased 40% during the first five months of 2008CNN Money: price record reaches $4 a gallon(June 8, 2008)
  6. U.S. gas consumption dropped by 2% from 2007 to 2008 for the first time in decadesMarket Watch: prices will come down (May 5, 2008)
  7. When asked about the prospect of $4 gas during a press conference, George W. Bush replied: ""That's interesting. I hadn't heard that." The Huffington Post: On $4 Gas: "I Hadn't Heard That" (February 28, 2008)

• Causes of Increasing Prices

  1. Increasing international demand for oil
  2. Decreasing availability of oil
  3. Turmoil in the Middle Eastern region
  4. Policies of The Bush Administration
  5. OPECAlterNet: Why We're Suddenly Paying Through the Nose for Gas (June 12, 2008)

• Record Highs

  On June 30, 2008, U.S. gas prices reached a record high. According to an AAA survey, the nationwide average for gas was $4.086 per gallon.CNN Money: Oil touches record but ends lower (June 30, 2008)

• Driving Decrease

  In May of 2008, CreditCards.com conducted a survey on the driving habits of Americans, who reported the following cutbacks:

  1. 66% reported less driving for pleasure
  2. 53% reported a decrease in driving to visit friends and family
  3. 25% reported they had cut down on driving to work

  Of the 54% of those polled who reported less driving for vacation purposes, the greatest decreases were among those earning between $30,000 and $49,000 per year.CreditCards.com: Gas prices take toll on family visits

• Related Pages on Mahalo

  Price of Oil and Gasoline | How to Find Cheap Gas | How to Get Better Gas Mileage | How to Calculate Your Gas Mileage | Gas Prices By Zip Code | U.S. Gas Prices Drop | How to Find Cheap Gas Videos

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