Drivers recently spoiled by falling gasoline prices are now having to deal with a new reality: Higher costs at the pump.
The average price for a gallon of regular unleaded gasoline has increased every day for the past 28 days to a national average of $2.30 per gallon, according to AAA. The steady rise reverses a record 123-day decline that started in September and ended last month with fuel costs reaching a five-year low of $2.03.
A major drop-off in worldwide oil prices drove the four-month long decline. Global oil oversupply cut oil prices by more than half between last summer and the beginning of 2015, but oil prices have slowly rebounded in recent weeks and the price most drivers pay at the pump has risen accordingly.
After slipping below $45 in January, the price of a barrel of West Texas Intermediate crude oil has since climbed by more…
View original post 169 more words