Photographer: Justin Sullivan/Getty Images
Copyright 2011 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
BALTIMORE (WMAR) - The average price of gasoline in Maryland hit a $4 overnight, casting a pall on the holiday weekend road trip.
Baltimore's average is only a penny away from the mark, while the average gallon price in Maryland suburbs of Washington, D.C. has matched Maryland's all-time record high with $4.05.
Maryland's average price is six cents above the national average and now joins D.C. and 10 other states with an average price at $4 or above. The national average is $3.94.
The rise in prices couldn't come at a worse time as it is ahead of a big weekend holiday.
Heading into the holiday weekend, motorists can still find a 51-cent differential in the price of gasoline across the state. The AAA Fuel Price Finder shows pump prices ranging from a high of $4.30 in Bethesda to a low of $3.80 in Kennedyville.
"Sticker shock is reigning supreme at the pump and from coast-to-coast consumers are currently spending over $1.3 billion a day on fuel expenses," said Ragina C. Averella, Public and Government Affairs Manager for AAA Mid-Atlantic. "With fuel prices heading steadily upward, it will be a rough ride ahead at the pumps for the next few weeks, as the monthly fuel bill for gasoline approaches $500 billion on an annualized basis."
Ironically, although motorists are seeing ever-increasing pump prices, there isn't much profit-taking at the local gas station. That's because the "sharp rise in spot and wholesale gasoline prices from January through March led to a 30.5% decline in nationwide station profits," according to the OPIS Retail Fuel Watch for the first quarter of 2012.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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