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We hear a lot about gas prices when they're going up. When they're going down, not so much.
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"When prices go up, they notice it. When prices go down, they don't care."
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Prices at the pump jumped 18 cents over the last couple weeks which is the biggest increase so far this year. The Lundberg Survey shows that heading into the weekend, the national average price of a gallon of self-serve was $3.69. Analysts say the spike is in part because of some refinery and pipeline issues across the country.
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Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline.
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A five-year, $10 billion expansion in Port Arthur, Texas, has created the largest refinery in the country. But because the U.S. has become a net exporter of gasoline and the facility will contribute to that trend, analysts say the project won't have a big impact on national fuel prices.
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If you're one of millions of motorists on the roads this holiday weekend, you may have noticed something unexpected and welcome: Gas prices are falling. Host Scott Simon talks with Daniel Yergin, chairman of HIS Cambridge Energy Research Associates about the trend.
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After spending much of the year on the rise, gas prices are now falling — dropping nearly 20 cents in one month. Industry analysts expect the price to keep falling, but that might not take the strain off your wallet yet.
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Several companies have developed smartphone applications to help people find the cheapest gasoline prices in town. We tried two popular apps; they work, but there are a few things to watch out for.
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Americans are consuming less gasoline, but upward pressure on crude oil prices, seasonal factors and the shutdown of some refineries are combining to push up prices at the pump.
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Gasoline costs about 50 cents more per gallon than it did in January. Motorists dread the trip to the pump and wonder why prices are so high — and when they'll go back down. But growing world demand could mean oil prices will continue to rise in coming years.