Why Are Gasoline Prices Increasing?

The 44-cent jump in gasoline prices over the past four weeks was the largest in well over three years, according to AAA.  Average nationwide prices were $3.75 per gallon Tuesday, the highest on record for the calendar day. 

Some politicians attribute the price rise to increased global competition for oil supplies and political tensions in the Middle East are contributing to high gas prices as uncertainty swells over future supplies.

AAA believs this year’s earlier-than-usual rise in prices is related in part to refinery maintenance.  (The Hill, 2/20/2013)