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Gas prices rise above 8 cents in NEO



Published: Tue, November 1, 2011 @ 5:21 p.m.

Northeast Ohio gasoline prices soared 8.2 cents a gallon this week. The current average price for a gallon of regular, unleaded gasoline is $3.362.

According to AAA’s Fuel Gauge, Crude oil prices moved lower Monday, as the U.S. dollar strengthened versus currencies abroad. This continued the inverse relationship between the dollar and crude prices that has prevailed for much of this year. West Texas Intermediate crude oil settled down 13 cents at $93.19 per barrel at the close of yesterday’s formal trading on the NYMEX.

Crude oil prices have fluctuated over the past few weeks on positive news regarding the Greek debt crisis and renewed confidence in the euro zone recover plan. Gains were also realized with a number of positive third quarter earnings reported by U.S. companies.


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