Gas Price Pinch, By The Numbers

The price of gas usually goes up around the Memorial Day holiday, but this year drivers are seeing prices they never imagined.

With the price of crude oil rising each day, you can expect the cost to fill up to do the same. In fact, we're paying almost a dollar more for a gallon of gas than we were this time last year.

In the past 12 months, crude oil prices have doubled and drivers are in sticker shock. The national average at the gas pump is a record $3.81 a gallon, a 19% spike over last year.

According to our calculations, many are paying dearly. In 2007, gas in Lexington was $3.14 a gallon. With a mid-size tank, drivers were paying $43.96 a week to fill up, or about $2,285 a year.

Today, folks can expect to pay much more. A tank costs about 55 bucks or nearly $2,875 a year; that's if prices stay the same.

Experts say it is stopping people from traveling this Memorial Day weekend. For the first time in 6 years, fewer people are expected to hit the road.

Oil executives are being forced to answer some tough questions on capitol hill about the rising prices. They're appearing before Congress this week.

Crude hit a new all time high, 135 dollars a barrel, on Wednesday.

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus