Monday, March 5, 2012
The price at the gas pump rose over the weekend and the nationwide average is nearing $3.80 a gallon. Oil is close to $107 per barrel because of tensions tied to Iran's nuclear program.
AAA says the national average for gasoline 2.6 cents since Friday, including a fractional gain on Monday. The price has risen for 27 straight days, to $3.77 a gallon.
Meanwhile, oil rose 13 cents to $106.81 per barrel in New York after hitting $107.42 per barrel earlier. Brent crude gained 35 cents to $124 per barrel in London.
Investors are concerned about potential supply disruptions as tensions build between the West and Iran over its nuclear program. President Barack Obama and Israeli Prime Minister Benjamin Netanyahu are meeting Monday to discuss the issue.