Oil prices on the rise again
NEW YORK (AP) – Rising tensions in the Middle East have pushed oil prices up 19 percent over the past 3 weeks and are leading to a rise in prices at the gasoline pump.
Since the start of July, average gasoline prices in the U.S. have climbed 11 cents to $3.44 per gallon. Pump prices are expected to creep higher in the coming weeks, and they aren’t likely to fall back to their June low of $3.33 for the rest of the summer, analysts say.
Crude rose $2.79, about 3 percent, to $92.66 per barrel Thursday, its highest level since mid-May. The price has risen $15 per barrel since June 28, when oil hit a low of $77.69.
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