Gas prices slightly increase, Americans spending 8.7 percent of income on gas

The price of a barrel of oil remains stable, but the demand for gasoline continues to creep up, with Americans having spent 8.7 percent of their income on gas in March, according to AAA.

"The reduced price of oil is starting to slow down the rate of increase at the pump, however gas prices are still expected to move higher this week, just at a slower pace," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "Pump prices are at an all-time high for this time of year and it's likely the national average for regular retail gasoline will reach $4 a gallon this month."

The national gas price average is the same as last week's price, $3.92, while Florida's average is $3.97, an increase of 4 cents.

July 2008 was the most expensive month for gas in the U.S., with the national average at $4.11 and 10.2 percent of Americans incomes going toward gas.

The national average price of regular unleaded gasoline is the same as last week at $3.92 a gallon.

Florida's average of $3.97 increased 4 cents.

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