Gasoline Is Now “Liquid Gold”

In what they are now calling “Oil Crunch 2005“, CNN says drivers in Boston, Chicago, San Francisco, Florida, and other parts of the country woke up to gas prices above $3 per gallon.

Others fared much worse.

Gasoline prices spiked as high as $5 a gallon in some areas Thursday as consumers fearing a gas shortage raced to the pumps.. Drivers in Atlanta said stations were charging well over $3 a gallon for regular unleaded, and at least one station in Stockbridge, Ga., was charging customers $5.87 a gallon.
-from Gas prices surge above $3, CNN

The national average unleaded gasoline price rose to $2.68 per gallon– a record high, according to the AAA. But prices rose much more around the country this morning.

Last night, CNN was showing clips of gasoline prices in excess of $6.00 per gallon in the Atlanta area.

The New York Times is reporting that Georgia’s governor has signed an order to punish gasoline vendors that charge excessive prices. He had received consumer complaints that prices were topping $5 per gallon.

President Bush has warned against price gouging and has encouraged Americans to conserve gasoline in response to their crisis. He also said that Saudi Arabia should do everything they can to help.

But millions of American still need to go to work, and fears of even high prices have many of them going to top off their car this morning.