A rise in the price of crude oil has made gasoline prices soar up during the last few weeks. About 7000 gas stations were surveyed and mid grade gasoline was $2.46 per gallon, while premium was $2.56. The diesel price went up 8 cents more than the same week last year, while gas was 12.9 cents higher than a year ago, according to Department Of Energy.

According to the US Energy Information Administration drivers paid $2.83 last week for a gallon of regular gasoline, which was 8.7 cents more than the previous week. Compared to the same period last year, prices at the pump have gone up by 13 cents.

Retail price of gasoline also went up drastically costing 10 cents more in New England and 10.3 cents more on the Gulf Coast, compared to last week. New England gasoline prices were about $2.358 a gallon last week, while Gulf Coast prices were $2.234. But in spite of the increase, gasoline prices in the Gulf Coast were still the cheapest in the nation. West Coast service stations had the costliest gasoline at $2.60 a gallon. San Francisco’s pump price was the highest at $2.81 a gallon.

Oil prices appeared to go down at the beginning of the year, but began to rise quickly. Prices go up when the demand goes up. According to the EIA, Americans are using about 3.6% more gasoline than they were the previous year.

Will we touch the $ 3 mark in 2007?

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