Views on commodities and energy
Gasoline spikes above forecast for summer high
While the summer driving season has been underway for only two weeks, gasoline prices have already blown expert forecasts for highs for the summer.
Average prices at the pump on Monday were $2.62 a gallon, according to AAA, up 16 percent from just a month ago, and over the $2.50 a gallon high that AAA had forecast for the entire summer. Last week, AAA spokesman Geoff Sundstrom said the group revised its forecast for the summer high to $2.75 a gallon.
Although prices are much lower than the $4 a gallon national average a year ago, experts say the prices will hurt American consumers already hard hit by the recession.
How are higher U.S. gasoline prices affecting you? Are you cutting back on other expenses in order to keep your car fueled up? Are you considering cutting back on driving? Are you worried about prices moving a lot higher?