Gas prices continue to rise - WMC Action News 5 - Memphis, Tennessee

Gas prices continue to rise

The pain at the pump has gotten sharper in the last several weeks.

Gasoline hit a new record high in Memphis over the weekend, with the average price for a gallon of unleaded at $2.39.  Many Mid-South residents reported seeing prices even higher.  Gas prices rose more than 10 cents in the span of just a few days.

Analyst Trilby Lundberg expects high demand for gasoline to continue through Labor Day. She says after that, prices will likely tail off, as long as a major hurricane or some other disaster doesn't interrupt shipments or activity at oil refineries.

Retail prices for gasoline are up an average of 70 cents since the beginning of the year and about 63 cents from this time a year ago.

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