The Hill News

A new nationwide survey from the Consumer Federation of America (CFA) finds that 90 percent of respondents are concerned about gasoline prices, and 89 percent are concerned about Mid-East oil dependence. A quick look at the gasoline pump or the nightly news explains why. The 40 cent increase in the price of gasoline last month has pushed prices to the highest level ever for the first week of spring, and the turmoil in the mid-East is likely to combine with the onset of the summer driving season to result in the highest annual average gasoline price ever and the highest household expenditure total on gasoline ever.  

Low and middle income consumers today are facing a harsh reality â€" consumers are on track to see average yearly household spending on gasoline exceed $2,800, a historic high when it comes to household expenditures on gasoline. Gasoline will likely be the single largest expense in their cost of driving this year, exceeding even the cost of ownin! g a vehicle.  

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