The average retail price for regular gasoline in the U.S. has topped $1/gal for the first time in more than 4 months, said U.S. Energy Information Administration.
As of Mar. 22, the cash self-serve price of regular gasoline was 101.7¢/ gal, up 4¢ from the previous week. The price has risen 11¢ since reaching a low of 90.7¢ cents on Feb. 22.
The average price was the highest since last Oct. 19, when prices were in the midst of an 8-month decline.
EIA said rising crude oil prices and refinery problems are responsible for the price increase, which is occurring earlier than the typical demand-driven spring gasoline price rise.
The current average price...