With the price of oil edging up past the $66-a-barrel mark, it's no surprise that customers are facing sticker shock at the gas pump. Welcome to gas at $3/gallon in some parts of New York City. In fact, gas already sells at $3.20/gallon at one pump in Brooklyn. That price will likely move northward during the remaining days of summer, say oil traders, who are now predicting $80-a-barrel oil by Labor Day.

Gas gouging at pumps throughout the city will not go unpunished, though, responded Mayor Bloomberg. As Bloomberg pointed out, "High gasoline prices hurt everybody in this city." (even billionaires, we presume)