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Gas prices climb 6.4 cents overnight



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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