According to a report by AAA Auto Club South, local residents should be prepare for high gasoline prices this spring.
AAA says gas prices are already at record levels in Florida, Georgia and Tennessee.
"Federal Reserve Board Chairman Ben Bernanke says he is poised to cut the federal prime rate interest again. Such a move will further devalue the U.S. dollar and extend what has already been a prolonged rally for crude oil," said Randy Bly of AAA.
"Given the record levels we stand at now, the current climate holds nothing but more record-breaking retail gasoline prices. And as U.S. refineries prepare to temporarily shut down for annual spring maintenance and begin to switch from refining winter blends of fuel to the more expensive summer blends — decreasing gasoline supplies — fuel prices could escalate to an average of $3.75 per gallon or more."
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