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Wallets Hit Hard By Gas Prices

Average Gas Price In Vegas $3.23

POSTED: 3:03 pm PDT March 11, 2008
UPDATED: 10:30 pm PDT March 11, 2008

Gas prices were at a new record Tuesday night.

The national average is $3.23 a gallon.

The average in Nevada is $3.29.

In Las Vegas, the average is $3.23.

That’s a 30-cent increase from last month.

The lowest reported price FOX5 found is $3.11.

Just a few weeks ago gas wasn't even $3, and now, residents have $4 to look forward to.

"Simply outrageous. Pretty soon I'm going to have to ride my bike," said Sharon Wade of Henderson.

"It keeps rising and rising, and I'm sure it's going to be $4 before long, and who knows after that," said Harold Miller of Henderson.

According to AAA, the average price per gallon of gas in Nevada is $3.29. One year ago it was $2.74. That's a 55-cent increase.

“This is a record for Nevada, for Las Vegas and Reno, all set today. And unfortunately, tomorrow we may set new records," said AAA spokesman Michael Geeser.

The spike is being blamed on crude oil prices. They also reached a record on Tuesday at $109 a barrel, up $62 from last year at this time.

"The reason is because foreign investors have begun pouring in money into crude oil market as the value of the dollar has fallen," Geeser said.

And unfortunately, experts don't see an end in sight -- which means people like Miller will have to make up the difference somewhere else.

"So that's going to reflect a lot of my travel on the weekends and things like that, because it's going to take so much more gas to get to work and money," Miller said.

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