Prices Rise Above $5 for a Gallon of Gas

Its not even summer yet and gasoline prices have risen above $5 for a gallon of premium gas at a Shell station in Los Angeles, California. Wholesale gasoline traded 13 cents higher in the market last Tuesday due to a Friday fire that idled BP Plc’s Cherry Point, Washington, refinery. The uncertainly in Iran is another factor that could increase gasoline prices to those never seen before.

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