Gas prices jump 16 cents in single week
Gasoline prices rose an average of 16 cents per gallon in Massachusetts over the past week.
The increase extended a month-long run-up in prices, AAA of Southern New England said.
A statewide survey on Monday found an average price of $2.44 per gallon of self-service regular unleaded, compared with $2.29 a week earlier, the automobile association said.
Gas prices have risen four straight weeks in Massachusetts, and are up 29 cents per gallon over a month ago, AAA said. The recent rise follows a five-week string of price decreases after the first week of the year, when the average price stood at $2.34 per gallon.
The AAA attributed the past week's increase in part to higher demand caused by a seasonal rise in industrial activity. The organization also cited speculative investing on global commodity markets and geopolitical tensions.
The latest weekly increase was one of the sharpest price jumps in Massachusetts except for the surging prices that followed Hurricane Katrina in 2005. The weekly price increase was 18 cents in the AAA survey conducted April 24, 2006, and 16 cents in the survey conducted March 20, 2006.
(AP)
