Gas Prices Continue to Climb
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Jupiterimages/Thinkstock(WASHINGTON) — Bad news for American drivers: gas prices are on the rise, the U.S. Energy Department says.
The national average for a gallon of regular gasoline has gone up two cents to $3.74 from $3.72 a week ago, according to the Energy Department’s weekly report released Monday. The average is 10 cents higher than two weeks ago on Aug. 6, the report shows.
Refinery problems, aging pipelines breaking down and tensions in the Middle East added to high ethanol prices and drought are driving up gas prices on commuters across the U.S.
But experts say the prices are expected to start coming down in another two or three weeks when production begins to switch from higher priced summer gas to combine into the lower priced winter blend.
Additionally, with one eye on the rising prices at the pump and the other on the political calendar, the Obama Administration says the option of a release of oil from the nation’s strategic reserve is on the table.
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