GENTLEMEN, DON'T START YOUR ENGINES – AT 11:25 A.M. ET: Because we are affected by them every day, gasoline prices can have a serious effect on how we perceive the economy, and how we feel about political leaders. Gasoline prices are headed up again, not good news for the president:
Drivers are paying more for gas again.
Agencies that track gas prices showed the price rising in the past week both nationally and in New Hampshire and Massachusetts.
AAA said there was a 5-cent-a-gallon increase in the past week for regular gas nationally, up to $3.68.
In New Hampshire, AAA reported the price at $3.71 yesterday, up 4 cents from a week ago. In Massachusetts, AAA had the price of gas at $3.77, up 5 cents from last week.
AAA said the prices are back where they were a month ago in New Hampshire. They are $1.05 cents higher than a year ago, up from $2.66. Prices are up 3 cents from a month ago in Massachusetts, up $1.07 from last year.
The prices are still below the record highs of $4.04 for New Hampshire and $4.09 for Massachusetts, set three years ago this month, AAA reported.
Drivers in Hawaii, Alaska and Connecticut are now paying more than $4 per gallon.
AAA, in an analysis of gas prices on Monday, said crude oil prices were being affected "by debt concerns and continued gridlock in Washington surrounding talks to raise the U.S. debt limit."
COMMENT: This is one of the issues that sank Carter in 1980. If the economy is weak, unemployment high, and gas prices at painful levels, Obama will have a hard time explaining himself to the 2012 electorate.
July 20, 2011