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Gas prices spike 8% in February

CNN Money -- February has been one heck of a month for American motorists, who have been hit with an 8% spike in the price of gas. And things are expected to get worse during the summer driving season, when gas prices could break their current record.

On Wednesday, the price of unleaded gasoline rose for the 22nd day in a row to a nationwide average of $3.73 per gallon, according to the motorist group AAA.

Gas prices are up about 14% so far in 2012. The average price is down 38 cents, or about 9.3%, from the record high of $4.11 reported on July 17, 2008.

In places like Alaska, California and Hawaii, the price of gas has surpassed $4 a gallon.

The rise in gas prices is being fueled by the climbing price of oil and Iran's ongoing threat to shut down the strait of Hormuz. Signs of an improving…

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Submitted Feb 29, 2012 By: GocartMozart

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bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: Feb 29, 2012 6:45:44 AM Ignore bigmoo63 Report Abuse And thats just the start. Wait until all other items go up. Goodbye, alleged recovery.
JohnofGB Champion Author Flint Posts:5,426 Points:1,097,170 Joined:Feb 2010	Message Posted: Feb 29, 2012 6:20:28 AM Ignore JohnofGB Report Abuse It was more than 8% around here.
amoshins Champion Author Trenton Posts:2,200 Points:642,620 Joined:Apr 2011	Message Posted: Feb 29, 2012 6:14:42 AM Ignore amoshins Report Abuse All other goods will rise at least the same amount
Evilmaddog Champion Author British Columbia Posts:3,327 Points:958,525 Joined:Aug 2010	Message Posted: Feb 29, 2012 5:47:54 AM Ignore Evilmaddog Report Abuse soon food prices to catch up
daequitz Champion Author New Jersey Posts:6,322 Points:1,384,580 Joined:Jan 2007	Message Posted: Feb 29, 2012 5:45:26 AM Ignore daequitz Report Abuse Soooooo tired of this.
dave27johnson Champion Author Chicago Posts:1,788 Points:409,345 Joined:Feb 2012	Message Posted: Feb 29, 2012 5:34:45 AM Ignore dave27johnson Report Abuse No end in sight until the price bubble busts.
gs7101 Champion Author San Antonio Posts:5,528 Points:388,895 Joined:Jun 2009	Message Posted: Feb 29, 2012 5:32:41 AM Ignore gs7101 Report Abuse And price of gas continues to rise!
DerHahn Champion Author Illinois Posts:13,719 Points:2,115,110 Joined:May 2004	Message Posted: Feb 29, 2012 5:14:59 AM Ignore DerHahn Report Abuse we've had a 17% increase in the last 2 weeks. one of the stations just hit $4 yesterday and it's not even spring yet. yet this is an area of the country that's listed as getting discounts currently. where's the discount?
cmptrmush Champion Author Detroit Posts:3,620 Points:739,720 Joined:Feb 2011	Message Posted: Feb 29, 2012 5:11:18 AM Ignore cmptrmush Report Abuse While I was at the gas station filling my car up this morning, the price bumped up $0.10 for regular unleaded. I was the last car at the old price today.
335d1 Champion Author Virginia Posts:2,386 Points:760,020 Joined:Feb 2011	Message Posted: Feb 29, 2012 5:02:46 AM Ignore 335d1 Report Abuse Can't wait 'til May and we start the Summer gas price rise.
dal1 Champion Author Illinois Posts:1,183 Points:147,165 Joined:Jun 2007	Message Posted: Feb 29, 2012 4:50:37 AM Ignore dal1 Report Abuse before long I won't be able to afford to go to work!!!
APlus Champion Author San Antonio Posts:3,918 Points:992,195 Joined:Apr 2007	Message Posted: Feb 29, 2012 4:35:55 AM Ignore APlus Report Abuse Gas prices keep going up.
jrs4125 Champion Author Indiana Posts:2,763 Points:592,720 Joined:Sep 2011	Message Posted: Feb 29, 2012 4:30:02 AM Ignore jrs4125 Report Abuse Here in north central Indiana the price for regular went from 3.08 to 3.85 in the same time period.
wildddkattt80 Champion Author Phoenix Posts:2,143 Points:432,145 Joined:Jun 2011	Message Posted: Feb 29, 2012 4:21:27 AM Ignore wildddkattt80 Report Abuse It is ridiculously high!
BBopp Champion Author Dayton Posts:6,844 Points:1,939,430 Joined:Dec 2006	Message Posted: Feb 29, 2012 4:02:28 AM Ignore BBopp Report Abuse Only 8%? It seemed like a lot more than that.
WalRus49 Champion Author Boston Posts:4,080 Points:869,840 Joined:Nov 2010	Message Posted: Feb 29, 2012 4:00:54 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage............
mike1881 Champion Author Fayetteville Posts:1,300 Points:565,400 Joined:Feb 2011	Message Posted: Feb 29, 2012 4:00:53 AM Ignore mike1881 Report Abuse Well, I guess it is better than 10%.