You are here
WASHINGTON -- The U.S. average retail gasoline price climbed above $2 a gallon for the first time since last November, according to the Energy Department.
The national price for regular unleaded gasoline jumped 8.4 cents over the last week to $2.05 a gallon, which is still down $1.24 from a year ago, Reuters reported.
Gasoline prices are up because of higher crude oil costs that are passed on to drivers at the pump and stronger fuel demand, the report said.
Consumers are also seeing prices at the pump rise as refiners switch to more expensive summer blends.
A gallon of gasoline is $1.239 cheaper than a year ago, when crude prices were headed to new highs, according to The Associated Press.
-- Economic Recovery Could Fuel Rise in Pump Prices