Oil Jumps to $106, Signaling Another Gas Price Hike

Oil closed over $106 a barrel Thursday on news that Germany will begin looking for alternatives to Russian oil, opening the door to a European Union embargo. After a week of crude prices trading between $95 and $100 a barrel–and national gas prices remaining steady around $4.10 a gallon–commuters can expect the price at the pump to follow crude’s upward trajectory.

National gas prices are up nearly 45% over this time last year, from $2.89 a year ago to $4.16 today.

via MarketWatch.com

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