The United States should tap local oil reserves to help curb the cost of gasoline. China and India are increasing their consumption for gasoline. We’d either use the gasoline locally or export it to help with our trade deficit. Either way, it is a win-win situation.
If you’re planning a long drive during the Labor Day holiday, you can expect to pay the highest gasoline prices ever for that holiday, the The American Automobile Association predicted.
Bloomberg reported that the effects of Hurricane Isaac and a deadly refinery blast at a Venezuela refinery have helped push gasoline prices upward in recent days.
"We expect the national average price of gasoline for Labor Day this year to be the highest ever for the holiday," Michael Green, a spokesman for AAA in Washington, said.
Bloomberg reported that the national average for gasoline on Tuesday was $3.76 a gallon, up about a penny. But the Fort Worth Star-Telegram reported that the Fort Worth-Arlington average rose 3 cents to $3.60.