People in the US are reportedly changing their holiday plans - after petrol reached the "ridiculous" price of up to 50p a litre. The national average for unleaded fuel is $3.53 a US gallon - which works out at just over 47p a litre. But the price in California, the most expensive state for 'gas' in the US, has reached 51p a litre with diesel even higher at 59p. US motorists will get little sympathy from their British counterparts where petrol is well over £1 a litre and diesel around £1.20.
People in the US are reportedly changing their holiday plans - after petrol reached the "ridiculous" price of up to 50p a litre.
The national average for unleaded fuel is $3.53 a US gallon - which works out at just over 47p a litre.
But the price in California, the most expensive state for 'gas' in the US, has reached 51p a litre with diesel even higher at 59p.
US motorists will get little sympathy from their British counterparts where petrol is well over £1 a litre and diesel around £1.20.
93 cents = 47p at today's rates (1 USD = 0.502658 GBP).
The forecasts calling for a jump to between $7 and $10 a gallon are based on the view that the price of crude is on its way to $200 in two to three years. Translating this price into dollars and cents at the gas pump, one of our forecasters, the chairman of Houston-based Dune Energy, Alan Gaines, sees gas rising to $7-$8 a gallon. The other, a commodities tracker at Weiss Research in Jupiter, Fla., Sean Brodrick, projects a range of $8 to $10 a gallon.
