Get ready for sticker shock at the pump once again – $3.53 per gallon – as gas prices hit an all-time high for February.
The latest Lundberg Survey shows gas prices are up about 25 cents a gallon since January. Here in the Tri-State the average price is $3.46 a gallon.
The U.S. is the world's largest consumer of oil, but a big rival is China. Problems in the Middle East are exacerbating the problem. Tensions with Iran are feeding fears that oil supplies could be blocked.
Experts say a gallon of gas is already $4.03 on average in California. This summer, the price of gas could hit $5 on the East Coast.
Lundberg predicts gas prices could go up a few more pennies in the weeks ahead.