In the news today (11/12/07)

Pump price to jump 20 cents next 2-3 weeks: government

U.S. consumers could pay record gasoline prices for the upcoming Thanksgiving holiday with pump costs expected to climb another 20 cents over the next two to three weeks, the government's top energy forecaster warned on Monday.

Guy Caruso, who heads the U.S. Energy Information Administration, said not all of the recent jump in crude oil prices has been reflected in motor fuel costs which now top $3 a gallon in many parts of the country, about 80 cents more than a year ago.

"We haven't seen the full pass-through (of high oil prices) yet," Caruso told reporters at a briefing on oil market conditions held at Energy Department headquarters. "I would say what's in the pipe right now (for gasoline) is about another 20 cents."

source

**footnote

This would be a pain in the butt for all of us consumers. But did you know that Philippines pump price is more expensive than our here in the States? 1 gallon of diesel pump gas in the Philippines would cost roughly $4. So I better like it here in the States than in Phils (sorry to say this).