Gas Prices Shoot Upward Again

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It's a record high for the average price of self-serve regular gasoline.
The Lundberg Survey says it surged to $3.07 a gallon, a hike of nearly 20 cents from two weeks before.

The spike has left motorists frustrated and re-working their budgets.

"They're too high," motorist Shirley Beckermann said.

Beckermann used to splurge, but with gas prices climbing, she sticks to necessities.

"You're not buying as much stuff, you are just being a cautious consumer and only buying what you have to."

Shirley isn't the only one frustrated, motorists already suffering from high prices are bracing themselves for more sticker shock.

"I don't like them more than anybody else," Motorist Jim Przybylsky said.

"You just got to pay them and go on," Motorist Austin McBroom said.

Analysts say the recent increases are due mostly to refinery problems. There have been at least a dozen additional partial shutdowns in the U.S. and internationally that have cut refining capacity.

Brazos County Texas Cooperative Extension Agent Alma Fonseca says motorists need to plan for seasonable spikes in gas prices.

"Saving is real important and having an emergency fund or savings account to handle those unexpected expenses is a good idea," Fonseca said.

That could mean spending less on items like clothing and going out to eat.

"We all like fast food and restaurants and things, but if your budget is tight and you are having to pay for transportation costs that have gone up, think about cooking from scratch," Fonseca said.

A new budget might be the key, but for motorists like Shirley, they just want to see prices go down.

"I have to commute either 22 miles one way to work and 39 the other, so it takes a chunk out of your budget."

There could be some good news on the horizon.
Analysts say there are signs the surging prices may be peaking.