Gas Prices Still High
Consumers have been alarmed by the elevated gasoline prices as of late, but despite some help from the government, true relief could still be far off, according to CNN Money.
Gas prices stand at more than $3.50 in most parts of the country, and for an extended period of time, many topped $4 per gallon. This is partially due to the conflict in Libya, but the U.S. Department of Energy recently allowed an additional 30 million barrels from its reserve to be released, theoretically canceling out the disruption, the news source reported.
Despite crude oil prices declining significantly over the past two months, prices at the pump have not been as forgiving on consumer's wallets, according to the news source.Gasoline costs have only decreased 9 percent since March.
Consumers who are mired in credit card debt may want to be mindful of the gas price situation, as it could be a poor idea to charge transactions such as gasoline to their card.
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