Gasoline prices on Monday continued their push toward $3 per gallon. The only question now is when?Prices have been jumping on the back of a strong oil market where the cost for a barrel has spiked 20 percent in the past month on the New York Mercantile Exchange.
Skyrocketing gasoline prices couldn't come at a worse time for motorists, who will see heating bills jump after the worst cold spell in years. Oil prices are now about three times what they were a year ago.
Prices rose 1.4 cents overnight to $2.749 per gallon, according to auto club AAA, Wright Express and Oil Price Information Service. Prices have climbed 8.4 cents a gallon in the past week and are 95.5 cents higher than a year ago. The AAA survey shows prices have jumped 8 cents or more in the past week in many parts of the country, including Dallas, Chicago, Miami and Columbus, Ohio.