Rockford-area gas prices jumped 35.7 cents over the past week to reach an average of $3.80 per gallon on Sunday.
The spike in prices put the average 34 cents higher than it was one year ago, but they're still 16.2 cents lower than they were just a month ago. Nationally, prices went up 11.7 cents to an average of $3.62, 19.5 cents higher than one year ago and 0.4 cents higher than one month ago.
"Nationally, gasoline prices have begun moving upward yet again. I
suspect that the unrest in Egypt is playing a significant role in
pushing crude values higher, and thus retail gasoline prices higher as
well," GasBuddy.com Senior Petroleum Analyst Patrick
DeHaan said. "The market is seemingly quite sensitive to the situation in
Egypt as the Energy Information Administration has reported two
consecutive weeks of large declines in crude oil inventories, drawing
concern that a loss in Middle Eastern crude would mean
continued declines in inventories stateside."
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