Fuel prices rising in the US

Fuel prices rising in the US The price of gasoline is rising in the American market the cost of crude oil stayed above $100 per barrel for most of the month over tensions in the gulf region involving Iran, despite a low demand in the US.

The national average price of gasoline crossed on Friday, rising about $.17 from the previous month and about $.27cents more than the previous year, according to the data released by AAA and the Oil Price Information Service.

Experts say that the oil prices will remain high until there is more clarity on the situation in the gulf region. Iran is suspected of covertly developing nuclear weapons, a charge it denies and maintains that it has the right to harness civilian nuclear energy for generating power.

The authorities in the Islamic republic have announced a new military exercise in the Strait of Hormuz, through which a majority of the gulf oil passes to several countries.

AAA spokesperson Jana Tidwell has indicated that the prices of gasoline could further increase in spring. Tidwell said that the crude oil prices in the $4 to $4.25 range as early as April amid rising tensions in the Middle East.