Last Updated:September 18 @ 09:22 pm

Gas price tops $3.70

By AP Staff

NEW YORK (AP) -- The price of oil is stubbornly holding on to recent gains, and that's causing pain at the pump for U.S. drivers.

Benchmark crude rose 50 cents to $93.23 a barrel Tuesday on the New York Mercantile Exchange and has increased $5 in August. Retail gasoline, meanwhile, topped an average of $3.70 per gallon for the first time since May 19. Most of the country - 39 states - are now seeing higher gas prices than at this time last year.

A surprisingly strong July showing from U.S. retailers released Tuesday is a sign that energy demand could be on its way up.

In London, Brent crude fell 5 cents to $113.55 a barrel on the ICE Futures exchange. It has gained more than $8 per barrel this month.

VN:F [1.9.6_1107]
Rate this post:
Rating: 10.0/10 (1 vote cast)
Gas price tops $3.70, 10.0 out of 10 based on 1 rating





Don't leave yet! Add a comment below or check out these other great stories:

1 Comment

  1. CharieComment by Charie
    August 14, 2012 @ 4:04 pm

    In Central Wisconsin it’s $3.899. It skyrocketed just the way our president promised. Who says he doesn’t keep his promises?

    VN:F [1.9.6_1107]
    Rate this comment:
    Rating: 0.0/5 (0 votes cast)
  2. Pingback: Solving the Mystery of Rising Gasoline Prices – Businessweek : doing-it-green.com: wind solar energy resellers

Leave a Comment





Reference Pages

  • About
  • Network-wide options by YD - Freelance Wordpress Developer