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Miami Valley Gas Prices Hit Record High

Tuesday, March 11, 2008 – updated: 3:23 pm EDT March 12, 2008

The price of gas has reached a record high Tuesday in the Miami Valley, and across the country.

Many people saw the increased gas prices on their way to work Tuesday morning, and now they are feeling the financial strain.

On Tuesday, oil prices topped an all-time high of $109 a barrel. In January, it was $87 a barrel.

Some analysts said that the rise in oil prices are expected to push gas prices even higher in the coming days.

One motorist, Joe Smith, said, “It is amazing when it went up 20 cents. It looks like it is headed to $4 a gallon in months.”

A spokesman for gaspricewatch.com said gas prices in Indiana, Michigan and Illinois will also reach $3.45 a gallon by the end of the day.

The White House said that soaring oil prices are “not going to be solved overnight.” And, “This is something that we’re going to have to work through.”

For now, filling up at a BP, Shell, Mobile or Speedway is going to leave a dent in the wallet.

According to a local analyst, the price per gallon of gas is only going to continue to go up.

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