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Gas Prices Push Higher on Iran Worries

By Joe Benton
ConsumerAffairs.com

March 28, 2007

• OPEC Unable to Stop Gas Prices' Slide • Give Thanks for Falling Gas Prices • Gas Prices Fall Below $2 a Gallon • Oil and Gas Supplies Rise • Gas Prices Accelerate Their Decline • Gasoline Prices Down 19 Cents in a Week • Charlotte Gas Stations Make Refunds to Consumers • Oil Snaps Back As Markets Sense Post-Election Bounce • Gas Prices Settle Still Lower for Weekend • Gasoline Prices Keep Falling • Gas Below $3 Nationwide • Average Gas Price Down to Nearly $3 a Gallon • Gas Prices Drop, Along With Oil • Gas Prices Head Lower as Economy Slows • Gas Price Declines for 9 Days • Gas Prices Continue Downward Trend • Oil Prices Surge By Record $25 a Barrel • Gas Prices Drop for 5 Days • Price-Gouging Probes Spread to 6 States • Investigations of $5 Gas in North Carolina, Florida, and Virginia • Shortages, Price Hikes Follow Ike in Southeast • States Investigate Gasoline Price Gouging Claims • Pumping More U.S. Oil Won't Lower Prices, Consumer Group Says • Oil Prices Fall, Gas Prices Surge • Gas Prices Slide 8 Percent from Record --- • More ...

International oil prices are fluctuating wildly over uncertainty in Iran and worries the British may attack the oil-producing Islamic Republic.

The price of a barrel of crude oil briefly pushed to almost $69 on rumors of an impending attack in the continuing hostage conflict between Iran and Great Britain.

Last Friday, Iran seized 15 British sailors and marines. Iran has the world's second-largest oil reserves.

U.S. consumers are paying for the instability at the gasoline pumps with the prospect of even higher prices ahead.

The national average price for regular unleaded gasoline is now $2.60 a gallon. The price is 10 cents a gallon higher than one year ago and 25 cents higher than one month ago, according to AAA, of Heathrow, Florida.

The average price for mid-grade unleaded gasoline is $2.76 a gallon and the price for premium unleaded is $2.86 a gallon. Both are up 3 cents a gallon compared with March 23.

Diesel fuel sells for $2.75 a gallon. The price is up 10 cents from one year ago.

The highest-priced gasoline in the nation is found in Needles, California, where drivers are paying an average of $3.79 for a gallon of regular unleaded. The lowest-priced gasoline is found in Laredo, Texas, where drivers can buy regular unleaded for $2.19 a gallon.

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