Friday, December 10, 1999
Holiday gas prices highest since 1990
BY PHILLIP PINA
The Cincinnati Enquirer
Before heading to the mall for some holiday shopping, save some of that money for the trip. Gasoline prices have risen to their highest pre-Christmas level since 1990.
According to AAA's monthly fuel gauge report, the price for a gallon of self-serve, regular unleaded gasoline is up 28.7 cents since last year, and up 2.8 cents the past three weeks. The average nationwide price this month was $1.31 a gallon.
The increase can put a squeeze on the pocketbook.
“It's taken a bite out of our wallet,” said Richard Thomas, owner of Mr. T's Pizza Place in Price Hill. The holidays bring more business, but also more traffic to burn fuel in.
His restaurant owns four delivery vehicles. Every day, they fill each with a full tank of gasoline. The average fill-up has risen from about $8 to $12 per car, he said.
“There's not much you can do but absorb the cost,” Mr. Thomas said. The increase has increased delivery expenses. But because gasoline prices fluctuate, he doesn't want it to affect pizza prices.
The December national average is the highest for the month since 1990, when the average gallon of unleaded gasoline cost $1.37. In 1998, the figure was $1.02 a gallon.
The price increase is blamed on the rapid increase in crude oil prices, at their highest level since the Persian Gulf War. There has been a decrease in U.S. oil supplies as major oil producing nations in the Organization of Petroleum Exporting Countries have cut back production, all while demand for oil has increased.
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