Gas prices hit yet another record high today

For the third straight week, gas inventories are up, but guess what! For the eleventh straight day, gas prices in the U.S. are at a record high! Costing American drivers an extra $20 BILLION so far this year.

The jump in U.S. gasoline prices this year has so far drained consumers of an extra $20 billion, or about $146 for each passenger car in the country, the Government Accountability Office told Congress on Tuesday.

The national price for regular unleaded gasoline hit a record $3.22 a gallon this week, and is up $1.05 since the beginning of February, according to the Energy Department.

As mentioned, gasoline inventory is on the rise, according a government report due out later today, and in turn, oil prices are dropping.

Oil prices fell Wednesday on expectations that a weekly U.S. government report to be released later in the day would show the third increase in domestic gasoline stocks in as many weeks.

Gasoline stocks were expected to grow by an average of 800,000 barrels, according to a Dow Jones Newswires poll of analysts. Crude oil supplies were forecast to drop by 200,000 barrels, and distillate stocks, which include heating oil and diesel fuel, were expected to increase by an average of 900,000 barrels.

So why the hell are we continuing to see gas prices climb day, after day?