Gasoline Prices Jump Another 4 Cents Overnight
NEW YORK – The recent surge in oil prices continues to
drive retail gasoline prices higher in the U.S.
Pump prices jumped another 4 cents overnight to a new national
average of $3.43 per gallon, according to auto club AAA. Gasoline
has climbed more than 29 cents per gallon since the uprising in
Libya began in the middle of February.
Meanwhile, oil prices are falling as trading opens Thursday on
the New York Mercantile Exchange. Benchmark West Texas Intermediate
for April delivery gave up $1.12 to $101.11 barrel on the Nymex. In
London, Brent crude fell $1.55 to $114.80 per barrel.
Oil rose $2.60 per barrel Wednesday and is up $17 per barrel
over two weeks. Analysts say traders have mostly priced in the loss
of Libyan oil production and are taking profits.