The relentless spike in pump prices this year will probably test the records set in 2008 for memorial day weekend. In California, drivers watched the price of an average gallon of gasoline move to $4.58 per gallon while the United States average rose to $3.87 per gallon. In Hawaii, a record high was set at $4.53 per gallon for regular fuel. United States fuel prices are heavily influenced now, more than ever, but the crude oil benchmark in Europe. Brent North Sea Oil has been trading at a premium with the United States and if it hits $140 per barrel, we can expect the prices to move another 40 cents per gallon in increases. Hawaii and California have averages of more than $4 per gallon along with Alaska, Connecticut, Illinois and New York. The surge in gas prices this year were mainly believed to be due to the turmoil in the Middle East and the change in the automobile marketplace. Small, fuel-efficient cars are now accounting for the same amount of market share as SUVs. Some economists expect that the economy can withstand the increase in gas prices but only time will tell.

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