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Gas Prices on the Rise Again
(IRN)-The price of gasoline, already high for this time of year, is getting higher.

The Illinois average for February is $3.26, which is up four cents over the last month ($3.22), and up 57 cents from a year ago ($2.69 in February 2010), according to the monthly survey by the Triple-A Chicago Motor Club.

Triple-A spokesman Beth Mosher says short term, the price is still rising, thanks to unrest in Libya and other hot spots in the Middle East. Crude oil is now trading at around $100 a barrel.

Mosher says it's impossible to predict what the price of gas will be in the summer, when it's normally higher than in the winter. The Middle East situation has traders concerned about supply, but if that doesn’t turn out to be a problem, the price of crude oil could drop precipitously. It was starting to come down after the situation in Egypt solidified, until demonstrations broke out in Libya and Bahrain.

(Source: Illinois Radio Network)
02 24 11 by Newsroom
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