Updates
February 15, 2012: add president Obama to those who foresee $5 gasoline.
Original Post
American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it's likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year.The "more complicated blends" are mandated by the federal government and various states, and thus the "pricier" tag.
In 2008, average gasoline prices had hit inflation-adjusted records nationally by the summer, but they didn't climb above $3.50 a gallon across the U.S. that year until April 21, according to the AAA Fuel Gauge Report. It happened again last year, but not until March 6.
But $3.50 a gallon gasoline is already here in 2012, weeks before refineries typically shut down for springtime maintenance, and weeks before the states switch from their less expensive winter blends of gasoline to more complicated and pricier summer blends.
By the way, that $3.50 is not out of line. The gas station across the street here in a Boston suburb has least expensive gasoline at $3.69.
