Gas Prices Inch Closer to $4 a Gallon

Pain at the pump continues as gas prices increased for the fourth straight week, inching ever-closer to the $4 per gallon mark, according to the latest survey by AAA.

The national average price of regular-grade gasoline was $3.85 on Friday, up 3 cents from a week ago, 30 cents higher than month-ago prices and 99 cents higher than year-ago prices. Gas prices have jumped 78 cents (or 25 percent) since the beginning of the year and are now 92 cents above the spring/summer peak of one year ago, when gasoline rose to $2.93 a gallon. Prices remain 26 cents below the all-time high of $4.11 a gallon set three summers ago.

“The [crude oil] market’s momentum makes it impossible to rule out $4 a gallon gasoline by Memorial Day, despite some analysts’ predictions to the contrary. However, we remain cautiously optimistic that we’ll see some gas price stability in the coming weeks," said Regina C. Alvarella, spokesman for AAA Mid-Atlantic.

With Memorial Day weekend just five weeks away, speculation is rampant about how the substantial increases in the price of fuels may already be impacting American families' vacation plans, according to AAA.

AAA predicts that, as was the case in 2008, the cost of gas may cause some people to change or altogether cancel their vacation plans. Those who have already booked their vacations are likely to keep their plans. Should gas prices continue this upward trend over the next few weeks, many will undoubtedly be forced to rethink their summer travel plans.

Here are the cheapest places to purchase gas in Essex-Middle River, according to MarylandGasPrices.com: