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$700 More for Gas per Year and Obama Does Nothing

March 10, 2011

U.S. drivers will pay yearly motor fuel costs up 28 percent from last year or about $700 more for gasoline in 2011 than it spent last year, bringing total motor fuel expensesto $3,235.

Higher gasoline prices will give consumers less money to spend on other goods and services, which many economists fear could slow the U.S. economy. The EIA said it expects drivers will pay an average $3.71 a gallon during the summer peak driving season. The average U.S. household will spend about $700 more for gasoline in 2011 than it spent last year.

Higher gasoline prices will give consumers less money to spend on other goods and services, which many economists fear could slow the U.S. economy. The EIA said it expects drivers will pay an average $3.71 a gallon during the summer peak driving season from June through August, about 98 cents more than last year.

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