BUSINESS

D.C. gas prices go up six cents in one week

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Gas prices in the D.C. metro area jumped dramatically over the past week, driving upwards by six cents, AAA Mid-Atlantic says.

(Photo: TBD Staff)

While the national average for a gallon of gasoline dropped by a penny to $3.96/gallon, the average price increased to $4.19/gallon.

The average for the entire greater Washington region went up by a nickel to $4.05.

Nationally, AAA says that prices stabilized, at least for this week, after weeks of skyrocketing increases. Factors for the fluctuations include the strengthening and weakening of the U.S. dollar, debt issues in Europe and ongoing conflict in Libya.

Prices for crude oil fluctuated all week after last week's $16/barrel drop. However, AAA Mid-Atlantic spokesman reiterated that a drop in crude prices doesn't translate to immediate relief at the pump.

"For as quickly as gas prices go up, their retreat can be equally as slow, nonetheless any retreat is welcome news for motorists," Townsend said.

AAA says that they expect prices to settle between $3.25 and $3.75/gallon during the summer months.

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