May 31, 2007 edition



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COVER STORY:

Gas pains

Northeast Philadelphia residents like other Americans are feeling the pain at the pump once again as gasoline prices last week rose to an all-time high just in time for the summer vacation driving season.
According to figures released on May 21 by the Energy Information Administration — the data-compiling arm of the federal government’s Department of Energy — the average price for regular unleaded gas had rocketed 11.5 cents in the previous week to an average of $3.22 per gallon nationally.
Last week’s price, when adjusted for inflation, essentially matched the all-time high reached in March 1981, when the national average peaked at $1.42.
Locally, meanwhile, gas stations from Somerton to Oxford Circle were posting prices as high as . . .

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EDITORIAL

Slicky business

Odds are, many Americans did more driving than usual this Memorial Day weekend, the unofficial start of summer vacation season.
More driving than usual is one of the main reasons that America is smack dab in the middle of an energy crisis. If the price of gasoline doesn’t take a dive very soon, the U.S. economy, despite its purported strength, probably will. Consumers can take only so much financial pain.

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