According to AAA, the national average of regular gasoline hit $3.731 a gallon this week. The LA Times reports, "U.S. motorists have seen the national average for regular gasoline rise above $3.50 a gallon in just three different years, but it has never happened this early. Analysts said the early price shocker is likely a sign that pain at the pump will rise to some of the highest levels ever this year." McClatchy Newspapers raises concerns about the impact of high gas prices not just on consumers, but also on economic recovery: "By summer, some analysts said, you could be paying $4 for a gallon of gas, almost as high as the record set in the summer of 2008. A price that high could cripple the still-fragile recovery, as millions of Americans might decide to spend their just-renewed payroll tax cut on gas instead of a new clothes dryer or TV set." The rising cost of crude oil across the globe and increasing tensions in the Middle East suggest that prices will continue to skyrocket in coming months, hitting hardworking taxpayers.
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