Thursday, March 3, 2011
Gas prices continue to surge in the USA. Many oil analysts blame the meteoric rise to unrest in Libya which is an OPEC member nation.
Pump prices are the highest in history for early March, jumping 4 cents Thursday. The national average is $3.43 per gallon, according to AAA.
The price of oil has risen 21 percent since Feb. 15th, when Libyan protesters called for the end of the 42 year reign of Moammar Kadafi. Libya rests on the largest oil reserves in Africa. The U.S. imports only a tiny amount of oil from Libya, but it’s still affected by the spike in oil.
Price increases are being seen in everything from airline tickets to the price consumers pay for lettuce, onions, strawberries, avocados, tomatoes, and eggplant.