News

Pump prices jump 12 cents, AAA sees further rise

Pump prices jump 12 cents, AAA sees further rise

American motorists are bracing for further increases in gas pump prices. Photo: Associated Press/Seth Perlman

American motorists are bracing for further increases in gas pump prices this summer after average national prices rose 12 cents in the past week alone.

AAA says drivers are experiencing “sticker shock” as increased summer demand, unrest in Egypt and production disruptions in the U.S. and other countries push up the price of crude oil and gasoline.

The national average price for regular unleaded gasoline was $3.67 a gallon on Friday.

AAA says that’s 23 cents more expensive than the same time last year but still below the all-time daily high of $4.11 a gallon on July 17, 2008.

The association says retail gas prices are likely to rise more in the coming weeks.

Unscheduled refinery shutdowns or hurricanes on the U.S. Gulf Coast could also add to price increases.

Recent Headlines

4 hours ago in Entertainment

McDonald’s serving up ‘smarter’ Happy Meals

18-overlay-2

Ronald McDonald plans to serve up a side of literacy as the fast food giant swaps toys for millions of books.

5 hours ago in Entertainment

OPENING WEEKEND: ‘Hail, Caesar!’ and ‘Pride and Prejudice and Zombies’

12-overlay-2

Here's a look at some of the films set to open this weekend.

11 hours ago in Music

Lionel Richie’s book is too hot to handle

lionelrichie

Lionel Richie is desperate to write a "juicy" book about his career but has to wait until the people he wants to include die.