Americans' Annual Fuel Spending Hits Record

About 8.4 percent of the average American family’s budget in 2011 went toward gas for their cars, totaling a record $4,155, the Associated Press reported. But 2012 may not offer consumers relief, as Ed Morse, head of commodities research at Citibank, expects oil to average $100 per barrel, up from an average of $95 per barrel in 2011, the AP reported.

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