Gas prices up for 7 days in a row

By Ben Rooney, staff reporter


NEW YORK (CNNMoney) -- Fresh off a 27-cent jump last month, gas prices were up slightly in a daily survey by motorist group AAA, as the price of crude oil backed off recent highs.

The national average price for a gallon of regular gasoline rose Tuesday to $3.375, according to AAA. That was up 0.7 cent from $3.368 a gallon on Monday, and marked the seventh day in a row that prices have increased.

Gasoline prices and taxes by state
Prices at the pump can vary widely among states due to a number of factors. More

Gas prices nationwide averaged about $3.17 a gallon last month, compared with $2.65 a gallon in February 2010.

As in recent weeks, Hawaii reported the highest gas prices in the nation, with drivers in the state paying an average of $3.784 a gallon. The lowest gas prices were in Montana, at $3.065 an average gallon.

Gas prices jumped 20 cents in the last eight days of February, as political unrest in Libya drove up the price of crude oil, the main ingredient in gasoline.

But oil prices have been tame so far this week. U.S. oil futures for April delivery were holding near $97 a barrel on Tuesday, down from a high above $103 last week.

Despite the recent moderation in the oil market, prices remain volatile as traders watch the changing political landscape in parts of the Middle East, source of much of the world's oil.

Oil prices had already been drifting higher before the protest movement that started this year in Tunisia spread to Egypt, Libya, Yemen, Bahrain and Oman. Analysts worry that prices could spike again if other oil-exporting nations are destabilized.

Gas prices remain below the record highs seen in July 2008, when the national average price rose to $4.114 a gallon.

Consumers cut back on driving and curtailed discretionary spending the last time gas prices rose above $4 a gallon, and many economists worry that a sustained period of high gas prices could hurt the still fragile economy.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,356.87 288.00 1.69%
Nasdaq 4,644.31 96.48 2.12%
S&P 500 2,012.89 40.15 2.04%
Treasuries 2.15 0.08 3.72%
Data as of 9:48pm ET
Company Price Change % Change
Bank of America Corp... 17.26 0.54 3.23%
General Electric Co 24.66 0.17 0.69%
Apple Inc 109.41 2.66 2.50%
Cisco Systems Inc 26.81 0.22 0.85%
Microsoft Corp 45.74 0.58 1.28%
Data as of 4:04pm ET

Sections

That number will likely grow as the Obama Administration eases restrictions with the Communist country. More

Laurie Segall sits down with Reddit founder Alexis Ohanian and founder of AeroFS, Yuri Sagalov, to discuss how immigration reform could bring more skilled tech workers to the U.S. More

News startup The Skimm announced a new round of funding, 1 million active readers, and plans to expand into a 'lifestyle brand.' More

Congress waited until the last minute to decide what to do with a slew of expired tax breaks. They extended most of them, and a handful will affect individuals directly. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.