As crude oil reached $91 a barrel on the New York Mercantile Exchange last week, U.S. gasoline prices started going up reaching an average value of $3.05 per gallon. That’s about half a dollar more than what Americans had to pay a year ago and the highest level since October 2008, according to the U.S. Department of Energy. Diesel prices have also increased to an average of $3.29 a gallon.
If the trend continues, we might see owners of large SUVs going for more fuel-efficient crossover models and trade-in values could plummet as well.
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