Northstate Gas Prices Jump 25 Cents in One Week
Gas prices have spiked in the last week. In Chico, prices are up 25 cents in one week to $3.77 a gallon. In Redding, prices are up 24 cents in the last week to $3.83. The statewide average for California is $3.93. The national average is $3.53.
That adds up to a big chuck of your annual income. Americans are pumping about four percent of their incomes into buying gasoline. The energy department says U.S. households spent an average of just over $2,900 on gasoline last year. That's the highest level in four years.
The percentage reached similar levels in 2008, when a red-hot global economy and panic over dwindling supplies sent gas prices through the roof.
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