April 12, 2011, 4:44 p.m. EDT

Gasoline prices up 40% this summer, U.S. says

Motorists should prepare for sticker shock at the pump

By Ruth Mantell, MarketWatch

WASHINGTON (MarketWatch) — Gas prices will jump 40% for the summer driving season compared with 2010, according to a federal projection released Tuesday.

Retail prices for a gallon of regular-grade gasoline will average $3.86 from April through September, up from $2.76 for the comparable period last year, said the Energy Information Administration, the statistics arm of the Department of Energy.  (read more)