Gas prices rise 5 cents in 1 week

6:25 AM, Sep 17, 2012   |    comments
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ATLANTA -- The average gas price of $3.87 per gallon is up 16 cents from a month ago and 24 cents from a year ago, AAA announced Monday.

Prices normally start to decline after Labor Day, but a number of national and international factors have led to the recent uptick. Among them are the tensions in the Middle East, the German bailout of the eurozone, and U.S. refinery shutdowns due to ungrades and Hurricane Isaac.

Expectations are for gas prices to start to decline and stay that way for a few months now that refineries have switched over from higher priced summer blend of gas to winter blend.

(Associated Press)

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