Gasoline prices near summer peaks on $95 crude - Reuters

[Eugene]

Source: Reuters

Gasoline prices near summer peaks on $95 crude
Mon Nov 5, 2007 5:32pm EST

By Robert Campbell

NEW YORK (Reuters) - U.S. retail gasoline prices have
rebounded to summertime levels following the five-week
bull run that has lifted crude oil prices above $96 per
barrel, according to retail surveys released this week.

The 17 percent jump in crude prices has pushed U.S.
pump prices above $3 per gallon for the first time ever
in November. U.S. retail prices last topped $3 per gallon
in July, according to AAA.

"We are surprised we didn't hit $3 sooner," said AAA
spokesman Geoff Sundstrom. "Prices could go higher now
that we are moving into the higher-demand season that
coincides with Thanksgiving and the year-end holidays."

-snip-

The U.S. government reported gasoline prices rose 14.1
cents per gallon over the past week to $3.01 per gallon
on Monday. Diesel fuel prices hit a record $3.30 a gallon.

-snip-

Read more: http://www.reuters.com/article/domesticNews/idUSN0527746520071105