Pain in the tank: Gas prices highest since 2008

WASHINGTON — Motorists are paying the highest prices for gas since October 2008.

Retail gasoline prices rose today on an expected increase in demand and as more expensive spring and summer blends of gasoline make their way to the pumps.

The nationwide average hit $2.799 per gallon, a penny higher than Wednesday, according to AAA, Wright Express and Oil Price Information Service.

Prices have now jumped 18.9 cents in the past month and are 87.9 cents higher than year-ago levels. Back on Oct. 23, 2008, prices averaged $2.8215 per gallon.

The Energy Department and many industry experts expect prices to top $3 this spring.

Gasoline prices tend to move higher in the spring as more drivers hit the road and refiners shut down units for maintenance, as they prepare to make more expensive summer blends of gasoline with fewer smog-causing emissions.

Wholesale gasoline prices also are at their highest point since October 2008.