Gas prices climb 30 cents a gallon

Steve Hargreaves
money.cnn.com
August 7, 2012

Gas prices continued their slow but steady march higher Tuesday, surpassing a nationwide average of $3.63 cents a gallon on the back of refinery problems in the United States and higher crude oil prices globally.

Nationwide average gasoline prices are now 30 cents higher than they were just five weeks ago. They are now at the midway mark between this year’s high price of $3.94 a gallon — hit April 5 — and the recent low of $3.33 hit just over five weeks ago, according to AAA.

By this weekend, gasoline prices will likely be higher than they were a year ago at this time, according to Tom Kloza, chief oil analyst at the Oil Price Information Service.

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This article was posted: Tuesday, August 7, 2012 at 12:41 pm

Tags: domestic news, economics

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