Nine Dollars For a Gallon of Gasoline?

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KANSAS CITY, Mo. — When you saw the sign at your local gas station, when you did the math and realized how much it jumped since the last time you drove by, your stomach probably did a little flip-flop.

If the days turn into weeks as analysts predict and prices remain at this level or jump again and again, it won’t be just your stomach that feels it.

Gas prices have hit their highest February levels ever and some analysts think they could reach $4 a gallon or higher as early as Memorial Day.

(For more from Yahoo Finance, showing how much a gallon of gasoline costs around the world, click here.)

Family budgets are already in crisis and unfortunately, the President says there’s no magic silver bullet to fix this problem.

President Obama says his administration is focused on reducing U.S. dependence on foreign oil and ending subsidies to oil companies.

Gas prices are a high stakes topic in this fragile economy.  GOP presidential hopefuls are using the spiking prices as a chance to knock down the President’s plan and sell theirs.

“I will open the keystone pipeline and get oil from Canada.  Let’s get energy secure,” said Mitt Romney.

President Obama warned voters to be wary of election year promises.

“It’s the easiest thing in the world to make phony election-year promises about lower gas prices.  What’s harder is to make a serious, sustained commitment to tackle a problem that may not be solved in one year or one term or even one decade,” the President said.

For gas prices across the Kansas City metro area, click here.

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