It is 2008 all over again. What reverse the high gas price in 2008? Bush rescinding an executive order banning off shore drilling. That cause a cascade of events that ended the speculation in the oil market. Will Obama do the same? It would be a fat chance in hell that will transpire. So far, EPA clamping down off shore leases, a ban in new refineries, and Obama raising the tax on oil companies. I don't think these will bring down the price of gas.
southeast-michigan">(WXYZ)- Michigan motorists will pay 6.4 cents more for gas today than yesterday -- with the current statewide average now at $4.040 per gallon, reports AAA Michigan.
This is the first time the average price of self-serve unleaded gas has hit $4 across the state since Sept. 19, 2008, when the average price was $4.034 per gallon.
The current statewide average is $1.196 more than the same time last year. The average for self-serve regular rose 4.2 cents in Metro Detroit yesterday, with the average now at $4.020 per gallon.
The Metro Detroit average is $1.187 cents higher than last year at this time.
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