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Gas prices rise after 98 straight days of declines



All good things come to an end. At least temporarily.

After 98 straight days of declines, gas prices headed north again on Wednesday, according to AAA.

But the news isn’t as bad as it may sound.

The average nationwide pump price of $3.68 was up by just a penny.

“All streaks have to end at some point, and the national average for a gallon of gas has fallen $1.34 since its peak in mid-June,” said Andrew Gross, a AAA spokesperson.

The nearly three months of declines at the pump is the second-longest such streak on record.

As usual, higher oil prices are to blame as oil-producing nations try to keep prices up without crashing the global economy.

In recent months, demand from drivers has eased amid fears of an economic downturn or even a recession.

The highest consumer prices in 40 years also prompted many Americans to economize as best they could, including fewer road trips.

Analysts don’t expect pump prices to change significantly in the near future, largely holding steady at current levels.

In California, the average gas price Wednesday was $5.49 a gallon. In Los Angeles, it was running $5.54.



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