Gas Prices See Biggest Spike in Two Years

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The price of gasoline has spiked in just the last week. It's up 18 cents to $3.54 a gallon, the biggest weekly increase in two years.

Analysts say the following factors may be fueling the price hike:

  • A stronger economy.
  • The price of oil has been climbing steadily in recent weeks as many refineries are doing maintenance at this time of year. It's close to $100 a barrel again.
  • Tensions in the Middle East.

AAA officials say, if Mideast tensions don't escalate, gas is unlikely to hit last year's highs.

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