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Gas prices jump, but increases could level off

NEW YORK -- Gasoline prices shot up to yet another record at the pump Thursday, while some analysts said the sharp price increases of recent days could soon level off even though gas will continue to rise, according to the Associated Press.

Crude oil prices, meanwhile, stalled in their march toward $120 a barrel, dropping sharply as the dollar gained strength against the euro.

At the pump, the average national price of a gallon of regular gas jumped 2.3 cents overnight to $3.556 a gallon, according to a survey of stations by AAA and the Oil Price Information Service. Prices have risen nearly 14 cents in one week.

Posted by Peter C. T. Elsworth  at 1:04 PM to Gas prices | Permalink

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