GASOLINE PRICE REACHING ALL-TIME HIGH - Reduction Not Expected Soon

(03/30/2004)

The bad news about high gasoline prices - the price will not be going down anytime soon. Prices have just reached a record high. The Lundberg Survey says the nationwide average in the past two weeks is $1.80 for all grades, a new record high. San Diego has the highest gas prices in the country, at $2.12 for a gallon of regular unleaded. Los Angeles is close behind, at $2.10 for a gallon of regular unleaded. "The demand push this time of year is adding to supply tightness and therefore price," Lundberg said. "I don't see any recipe for substantial gasoline price cuts anytime soon." Demand for crude oil is increasing with U.S. demand for gas. There are more vehicles on the road that require lots of gas and many of them are not fuel efficient.

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