Gas Prices Expected to Jump by Sunday

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Updated: 6/29/2007 8:53 am

It's probably fair to say a lot of us have been driving by gas stations all week wondering when prices will take that big jump for the Fourth of July.

Local 12's Paula Toti tracks what's happening and shows you why you don't want the luggage on top of your car.

"Isn't it sad that already this week people were saying get to the pump and fill up before prices go up for the 4th of July. Prices have gone up ten to 20 cents from last Sunday already depending on where you live ... But the good news for travelers ... We probably won't see record highs."

If you ask station owners they'll tell you gas prices will take their next big hike on Tuesday just before the 4th of July. But customers are bracing for a Sunday hike.

"Probably Sunday."

"You think Sunday they'll go up? Definitely because that's when I'm heading out."

AAA say says a record number of people are heading out for the holiday weekend ... with 38 percent of families leaving for the 4th of July trip before Saturday.

That's going to put some heavy demand on gas. Many companies across the country are actually closing all next week .. making it a nine day holiday for many. And AAA says with travel expected to be up almost one percent over this time last year ... gas prices don't seem to be playing a role in most people's plans.

"Family values that's why we're traveling. I would hope reason everyone else would be."

So how high will holiday prices go? Right now prices are 14 cents higher than this time last year ... but they're down 23 cents from a month ago. During Memorial Day some local stations were selling regular unleaded at their record high of $3.49 a gallon.

Consumers were told it was a matter of refinery problems. The factors at play this week .. should be more positive for consumers. A labor strike in Nigeria was settled and there was a recent rise in petroleum supplies. So somewhere between today's prices and the Memorial Day high is a safe bet ... as a record 41 million cars hit the road for the 4th.

Well since we're not staying home remember the little things. Proper tire inflation increases mileage 3 percent, an extra hundred pounds in the trunk decreases by 2 percent. And a luggage rack forget it. Putting stuff up there decreases mileage a whopping five percent.

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