Posted: Jan 30, 2012 9:40 AM
Average retail gasoline prices in Lexington rose 15.2 cents per gallon over the past week, averaging $3.43 per gallon Sunday. This compares with the national average that increased 4.5 cents per gallon in the last week to $3.39 per gallon, according to gasoline price website LexingtonGasPrices.com.
Prices Sunday stood 36.9 cents per gallon higher than the same day one year ago and 15.2 cents per gallon higher than a month ago. The national average increased 13.5 cents per gallon during the last month and stands 30.4 cents per gallon higher than this day one year ago.
"Late last week we saw wholesale gasoline prices rise dramatically on some refinery issues, which leads me to believe that retail gasoline prices will rise in response," GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said. "We continue to also watch how Iran responds to EU sanctions- there are some concerns that they may cut oil to the European region before the sanctions are to take effect to cause these countries hardship when they can't find new sources of oil quickly enough. That in itself could draw crude oil prices higher quickly at a moments notice."
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