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Rising Gas Prices Worry Commuters, Governor

Experts say gas could reach $4.25 a gallon by end of April and gas tax increases are on the table in Virginia.

Virginia Gov. Bob McDonnell is worried about rising gas prices, fearing they could reach more than $4 by the end of April. Commuters are also starting to pay more attention, particularly with an ongoing debate in both Virginia and Maryland related to increasing gas taxes.

“I am extremely concerned by recent reports that oil and gasoline prices continue to rise and gas could reach an average of $4.25 a gallon by April,” McDonnell stated in a release Tuesday.

According to the release, “The average price for a gallon of gas has recently topped $3.53 a gallon, up 25 cents since January 1, and up from $3.17 a gallon a year ago.”

If gas does in fact hit $4.25 a gallon by May, that would break the July 2008 record of $4.11, says the Washington Post.

Elsewhere, customers paying $5 a gallon for gas isn’t unheard of. The Washington Times reports that an Exxon Station near the Watergate Hotel is selling midgrade and premium gas for more than $5.

The Virginia State Senate has proposed to raise the state gas tax with the rate of inflation in hopes to find funding for transportation projects, the Post reports, but opposition from the House could hold the plan back. 

The reasons for the increases may include warm temperatures to unrest in the Middle East, according to McClatchy reports.

Check out Patch's Traffic & Gas page (in the tab above) for local prices.

Chris February 22, 2012 at 04:31 PM
Gasoline consumption in the United States is down. There is only one reason why gas prices are increasing -- speculators are driving up the cost of gas on fears of unrest in the middle east and a potential conflict with Iran. There is an easy solution to this -- implement the Dodd-Frank provisions mandating that the Commodity Futures Trading Commission write rules for the oil markets designed to stop speculation from controlling prices on crude oil and gasoline.
Brian Dauernheim February 22, 2012 at 08:46 PM
Better to raise the gas tax, which hasn't risen since the 1980s, than to pull money from the general fund to pay for transportation, as the governor proposes.
Common Sense February 23, 2012 at 02:21 PM
How about we invest to use our own oil, instead of relying on the middle east

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