Gas prices continue to march upward

Published: Monday, February 18, 2013 at 2:42 p.m.
Last Modified: Monday, February 18, 2013 at 2:42 p.m.

If you think that the price of gasoline is rising seemingly by the hour, you are not far off. Gas prices have risen for 32 days straight, according to AAA.

That means that the average price nationwide for a gallon of regular unleaded gasoline has increased more than 13 percent over that period to $3.73, according to the auto club group.

In Florida, the average price is $3.80, according to the website, up 16 cents from a week ago.

In Gainesville, the prices ranged from $3.73 to $3.99, with an average price of $3.86, reported. The average price last week was $3.68, the same price as one year ago.

The reasons for the steep climb have included a resurgent U.S. housing market, a better jobs market and more consumer spending. At the same time, fears have ebbed that there would be a protracted slowdown in China's economy, which would have dampened global demand for oil, according to a CNN report.

OPEC, the powerful cartel of petroleum exporting countries, is also believed to have cut production by about 1 million barrels a day in the last few months, partly in response to rising oil production elsewhere, notably the United States, CNN reported.

Adding to that, several refineries are either preparing to, or have already, shut down for maintenance before their annual switch to summer gasoline, which is formulated differently.

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