Across the state and country, motorists continue to pay more for fuel than they have in 28 months, according to a press release from AAA Arizona. Thursday's statewide average price was $3.256 per gallon, an increase of seven cents from last week. Nationwide, prices increased more than eight cents to $3.228 per gallon.
After trading in the mid $80s last week, the price of crude oil surpassed the $100 per barrel mark this week, a multi-year high for the commodity. AAA Arizona reports, "This in large part can be attributed to unrest in Libya, one of Africa's top oil producing countries. Conflict in the country has caused market anxiety over the possible disruption of Libyan crude, or the spread of unrest to the Persian Gulf."
"Following continued unrest in the Middle East and a considerable rise in crude prices, motorists can expect the price of gasoline at the pump to rise in the coming days," said Linda Gorman, director of communications and public affairs for AAA Arizona. "However, given market volatility, it's too soon to tell the extent of the impact the situation in Libya will have on retail markets."
Poorman posted at 2:29 pm on Fri, Feb 25, 2011.
Hello!,they were starting to rise before the latest mideast mess.!
EmperorSmith posted at 5:07 pm on Thu, Feb 24, 2011.
slab I do not care what he thinks
Dale Whiting posted at 5:05 pm on Thu, Feb 24, 2011.
There as been no dimmunition of oil being pumped. Saudi Arabia has stepped in to make up any shortfall AND at $100 per barrell others are close behind. What drives prices up is fear, fear of shortages caused by war, and rhumers of war. Who profits? Those suppliers who wisely kept their populations satisfied. Who looses? US and the rest of the world.
Slabside posted at 4:42 pm on Thu, Feb 24, 2011.
Funny, there was Middle East unrest in 2008 but the high gas prices were all Bush's fault. Now it's just Middle East unrest to blame. The liberal press will never target the Teflon coated liar in the White House.
EmperorSmith posted at 4:01 pm on Thu, Feb 24, 2011.
My opion I think oil has topped. so maybe short sale. Personally though I am not sure one that,