Gas prices keep rising, but still below a year ago

Gas prices keep rising, but still below a year ago

The national average price of gas has increased for 26 of the past 27 days to $2.66 a gallon, the highest average of the year. According to the American Automobile Association drivers are paying 27 cents more per gallon than a month ago, but a dollar less than a year ago.

The price of crude has risen since the middle of March because of slowing U.S. production, a weakening U.S. dollar and speculation of higher demand from China. Many market watchers believe the recent rally may be nearing an end because the global market continues to reflect an oversupply, effectively putting a ceiling on how high the price can go.