Gas prices rise due to higher crude oil prices

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STATEWIDE -- At the peak of summer driving season, it's getting more expensive to fill-up. AAA says it is normal to see a little bit of a spike in July and August due to demand, but there are other factors behind this latest increase.

"For the first time since May 2012, crude oil prices are over $100 a barrel. So now we're starting to see that reflected at the pump," said Angela Daley, AAA.

The nationwide average for a gallon of regular is $3.60. That's up 13 cents a gallon from a week ago.

In North Carolina, the statewide average is $3.46 a gallon, up from $3.38 last week.

"Since the recession we've seen people come back to traveling, but they're more concerned about the money they're spending," said Daley.

AAA doesn't expect travelers to slow down much, because July is such a popular month for family vacations.

"People have made their travel plans and probably won't change much. If we see prices spike, get up close to $3.70, $3.80 then people may change their plans," said Daley.

Some experts say prices could rise as much as 20 to 30 cents per gallon. But a shift in Middle East tensions could ease those fears.

"If the situation in Egypt settles and if supplies get back to normal, then we shouldn't expect to see gas prices spike as much as feared," said Daley.

Prices are higher than they were this spring, but it's not as expensive to fill up as it was a year ago.

Source: http://charlotte.news14.com/content/local_news/triangle/696454/gas-prices-rise-due-to-higher-crude-oil-prices

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