Gas Prices High for Winter Period

Trend could mean record high prices in 2012

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    NEWSLETTERS

    Analysts say if the current trend continues, 2012 could set a new high for gas prices. Megan McGrath reports. (Published Thursday, Jan 5, 2012)

    The New Year just started, but analysts are already talking about record high gas prices for 2012.

    Historically, January is a month with low gas prices, but the cost per gallon is already 24-cents higher than last year, and we haven't hit the peak period yet.

    Currently, the average price of a gallon in the District is $3.41.  In Virginia, a gallon averages $3.22, and in Maryland it's $3.31.

    Typically, prices rise gradually through the course of the year and are the highest during the summer travel period. Analysts say starting the year at such a high mark could mean record-breaking fuel costs when the weather heats up.

    According to AAA, the highest price per gallon was $4.11, set back in 2008.