Gasoline prices soar to $3.39 a gallon

The price for a gallon of regular of unleaded gasoline in Brownsville is now selling for $3.39, a 10 cent increase from this morning.

The majority of convenience stores around the city raised gas prices by 10 cents shocking motorists who earlier in the day saw it selling for $3.29.

This is the second spike in gasoline prices that the Rio Grande Valley has seen in about three days. On Monday, a gallon of regular unleaded gasoline was at $3.19.

The Stripes stores at Palm Boulevard, Central Boulevard and Elizabeth Street and Central Boulevard and Boca Chica all had gas prices starting at $3.39.

The H-E-B store on Central Boulevard and Boca Chica Boulevard had it a slightly lower price of $3.34.

Some economists have predicted that a gallon of regular of unleaded gasoline could be selling for $4 by summer.

Demand for gasoline has been falling for months as consumers reacted to a series of price records by driving less. The national average price of a gallon of regular unleaded gas rose 1.3 cents Wednesday to a record $3.399 a gallon, according to a survey of stations by AAA and the Oil Price Information Service. That's 53 cents higher than a year ago, and is expected to keep climbing along with futures prices and as the summer driving season draws near.

The average national price of a gallon of diesel, meanwhile, rose a cent to a record $4.129 a gallon, the survey showed. High prices for diesel - used to fuel most trucks, trains and ships - is a large part of the reason food prices are rising.

(The Associated Press contributed to this report.)