Gas prices reach record highs for ’12

The Covington News - - Local News - RACHEL GOFF rgoff@cov­news.com

New­ton County res­i­dents will see the high­est gas prices they’ve seen all year as they en­ter into La­bor Day week­end; how­ever, the good news is prices will go down, ac­cord­ing to gas price an­a­lysts.

Gas prices across the county rose an av­er­age 18 cents per gal­lon this week alone mak­ing gas the costly it has been since April 2011, ac­cord­ing to sta­tis­tics pro­vided by GasBuddy.com.

On Mon­day, prices be­gan to spike as Hur­ri­cane Isaac closed in on the Gulf Coast, and oil com­pa­nies be­gan to pull work­ers from drilling rigs and shut down re­finer­ies. The good news, ac­cord­ing to Se­nior Pe­tro­leum An­a­lyst Patrick De­Haan is that prices will move lower throughout the week­end.

Con­trary to pop­u­lar be­lief, prices do not al­ways rise dur­ing ma­jor hol­i­day week­ends, De­Haan said.

“An anal­y­sis of La­bor Day week­end prices from 2001 through 2011 shows that the na­tional av­er­age price of gas actu- ally de­clined in 10 of the last 11 years,” said Gregg Laskoski, se­nior pe­tro­leum an­a­lyst for GasBuddy.com.

How­ever, ac­cord­ing Amer­i­can Auto As­so­ci­a­tion, a rise in gas prices is pre­dictable around La­bor Day week­end and driv­ers can ex­pect a de­crease af­ter the hol­i­day.

“AAA con­tin­ues to ex­pect that, given cur­rent (eco­nomic) con­di­tions, prices at the pump will de­cline fol­low­ing La­bor Day as the busy sum­mer driv­ing sea­son draws to a close,” ac­cord­ing to a AAA press re­lease.

Yu­vette Lowe, a Cov­ing­ton res­i­dent, said she “didn’t have the right words to an­swer,” when asked about her thoughts of the re­cent jump in gas prices.

Lowe, who re­cently lost her job, put $10 worth of gas in her tank. That amount paid for 2.5 gal­lons of gas, just enough to make sure she got home.

Gen­eral Man­ager T. Pat Ca­vanaugh con­trib­uted to this ar­ti­cle. See our ed­i­to­rial on the re­cent gas price spike on 5A.

T. Pat Ca­vanaugh /The Cov­ing­ton News

Lo­cal Yu­vette Lowe spends $10 on just 2.5 gal­lons of gas ear­lier this week.

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