92M to travel despite record gas prices

LOS ANGELES The Auto Club of Southern California said these are the highest Christmas-time gas prices ever.

Prices normally go down during the holiday season, but this year the average nationwide price of regular gas is $3.01. That's the first time prices have topped $3 per gallon on Christmas.

Analysts said the increases are due to the rise in crude oil prices, which rose to more than $90 per barrel.

"It's very much a world-demand phenomenon," said oil expert John Kingston. "Demand worldwide is growing at a healthy pace."

Despite the high prices, people are still hitting the road.

AAA estimates that 92 million people will travel 50 miles or more from home over the holidays.

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