Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Gas prices near $3 a gallon

By Ben Rooney, CNNMoney.com staff reporter


NEW YORK (CNNMoney.com) -- Gas prices continued to climb higher, rising for a fifth consecutive day and coming closer to $3 a gallon.

The average cost of a gallon of regular gasoline rose slightly on Sunday to $2.747, from $2.743 the day before, according to motorist group AAA. Nationwide, gas prices have increased eight cents over the last five days.

Prices were highest in the state of Alaska, at $3.373 a gallon, AAA reported. They were cheapest in Wyoming, at an average $2.494 a gallon.

The national average gas price is now higher than it was at any point in 2009. But prices are still down $1.45, or 35%, from the record high price of $4.114 that AAA reported on July 17, 2008.

Gas prices have been rising recently as the price of crude oil has pushed higher. Last week, oil averaged about $82.30 a barrel, barely below a 14-month high.

Oil prices have been supported by frigid temperatures across much of North America and Europe, which has increased demand for heating fuels. Some analysts say pump prices could top $3 a gallon in the weeks ahead if crude prices rise near $90 a barrel.  To top of page

Search for Jobs

Index Last Change % Change
Dow 18,437.86 -65.13 -0.35%
Nasdaq 5,214.07 -18.26 -0.35%
S&P 500 2,173.67 -6.71 -0.31%
Treasuries 1.57 0.00 0.26%
Data as of 3:15pm ET
Company Price Change % Change
Bank of America Corp... 16.16 0.32 2.05%
EMC Corp 28.94 0.27 0.94%
Chesapeake Energy Co... 6.46 0.02 0.39%
Freeport-McMoRan Inc... 10.50 -0.48 -4.36%
Apple Inc 105.85 -0.97 -0.91%
Data as of 3:00pm ET
Sponsors

Sections

Martin Shkreli, the reviled drug company CEO who faces federal criminal charges, nearly doubled his $3 million investment in KaloBios. More

Global central banks are showing signs of gold buying fatigue. Gold demand at these powerful institutions recently dropped to a five-year low. More

Thanks to special deals in Ireland, Apple was able to avoid paying tax on most of its global profits for years. More

Following an order from the Department of Education to stop admitting students on federal financial aid, the for-profit technical school has stopped enrolling new students. More