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U.S. gas price tops $3 a gallon, highest since Oct '08

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A gasoline pump nozzle is seen at a gas station as fuel prices continue to rise in Arlington, Virginia in this June 11, 2008 file photo. REUTERS/Jim Young

A gasoline pump nozzle is seen at a gas station as fuel prices continue to rise in Arlington, Virginia in this June 11, 2008 file photo.

Credit: Reuters/Jim Young

WASHINGTON | Tue Dec 28, 2010 8:14am EST

WASHINGTON (Reuters) - The average price of U.S. gasoline rose above $3 a gallon over the past week, reaching its highest level since October 2008, the Energy Department said on Monday.

The national price for regular gasoline increased 7 cents from the previous week to an average of $3.05 per gallon, as rising crude oil prices bolstered fuel costs.

Crude oil settled down 51 cents at $91 a barrel on the New York Mercantile Exchange on Monday as a major blizzard in the U.S. Northeast cut down on already thin holiday trading volume.

Diesel fuel prices increased 4.6 cents to $3.29 a gallon, the department said in its weekly survey of service stations.

(Reporting by Ayesha Rascoe; editing by Jim Marshall)
U.S.
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Comments (8)
Ironeyes wrote:
Due to the declining value of the dollar, we should barter with OPEC. A bushel of grain for a barrel of oil. Why are we spending so much on space, wars, foreign aid, bolstering political egos, and off the books government projects? We should allocate those funds to developing alternative fuel and in the mean time tap into the oil fields in the U.S. that would last us a hundred years.

Dec 28, 2010 4:55am EST  --  Report as abuse
JimmyDistant wrote:
Its not because of opec that gas prices are higher. Its the greed of the big gas giants like exxon who make 40 billion a year profit. If they cut their gas prices to $1.50, they would still make 20 billion profit. And I also agree that we should sell opec a bushel of corn or wheat or what ever they buy from us that the price is double of what they want for their oil. They have been hanging that sword of damocles over our head for too long now. its time they eat that sand or bow to our demands.But then again we have those scared yellow backed chicken congressmen and senators and dont forget our kiss ass president past and future who are afraid to offend anyone but thumb their noses at the people who elected them. They wont do anything but have an investigation that leads nowhere.

Dec 28, 2010 10:24am EST  --  Report as abuse
DrJJJJ wrote:
Drill ALL our own oil!! It would created thousands of high paying jobs, stimulate the economy to the tune of almost a $trillion we’re giving others and we are better stewards of the environment than others are believe it or not! Anyone desire a huge spike of new jobs? Anyone think we could use the hundreds of billions in stimulus? Anyone like the idea we’re sending billions to Venezula, Mexico, the middle east? That’s what I thought-now go do the right thing and use the brain God gave ya for once!

Dec 28, 2010 11:02am EST  --  Report as abuse
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