Libya crisis means rising gas prices
As the crisis in Libya sends oil prices up, the price of crude oil shot up 20 percent in one week – hitting the highest mark in two years.
From the roads to the skies, travelers are dealing with higher fuel prices and bracing for even worse news.
Airlines are passing along the rise in jet fuel to passengers. For the fourth time this year, United and Continental hiked fares, tacking on an additional $20 to most domestic flights. Some other airlines followed suit.
At the pump, gas prices are up nearly $0.06 this week. Some are forecasting another $0.10 to $0.15 rise in the next few days. In the worst case scenario, gas will rise to $5 a gallon by 2012.
Some analysts predict more drivers will turn to public transportation, more families will put their road trips on hold and flying will be a dream.
But D.C. resident Julie Gallagher, a caseworker who spends hours each day in her car, admits it could be worse.
“Yeah, if it affects my pocketbook for the moment, I'm not really please about it,” she said. “But if it brings democracy in other parts of the world?"
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