Regular gas prices begin topping $3, trending upward

      The price of regular gasoline has started creeping above $3 per gallon in Columbia, and industry analysts expect the price to keep rising through spring.
      The price at the pump in Columbia reached the highest level at $3.22 per gallon for regular gas last May, but the retail prices for gas are expected to be higher in 2008 than last year, according to the U.S. Energy Information Administration. The latest EIA Short Term Energy Outlook projects that the monthly average gasoline price in the United States will peak near $3.40 per gallon this spring.
      While most Columbia stations at the beginning of the week were holding the line at $2.99 a gallon, stations in surrounding towns such as Jefferson City and Mexico are moving above $3 a gallon. The Phillips 66 station on Grindstone Parkway raised the gas price to $3.09 per gallon on Monday. At the Midway Travel Center off Interstate 70, Randy Trierweiler had the dreaded task of changing the sign advertising the station’s regular gas price above $3 per gallon last week.
      “We hate to charge these high prices,” Trierweiler said. “While there may be some psychological barrier involved (when the price exceeds $3), for us, it’s just based on cost. As our cost goes up, retail costs go up. We also try to price ourselves to match the Columbia market when feasible.”
      The high prices mean drivers have less disposable income and are less likely to buy food and other items inside the truck stop, he said.
      Overall, the share of disposable income that U.S. residents spend on energy rose above 6 percent in December, the highest level since 1985, according to the Bureau of Economic Analysis. 
      Oil prices, a major component of gas prices, have been rising relentlessly and last week hit a record high, even when adjusted for inflation.