Gasoline prices jump another 4 cents overnight

Filed under: Daily News | Tags:

The recent surge in oil prices continues to drive retail gasoline prices higher in the U.S.

Pump prices jumped another 4 cents overnight to a new national average of $3.43 per gallon, according to auto club AAA. Gasoline has climbed more than 29 cents per gallon since the uprising in Libya began in the middle of February.

Meanwhile, oil prices are falling as trading opens Thursday on the New York Mercantile Exchange. Benchmark West Texas Intermediate for April delivery gave up $1.12 to $101.11 barrel on the Nymex. In London, Brent crude fell $1.55 to $114.80 per barrel.

Oil rose $2.60 per barrel Wednesday and is up $17 per barrel over two weeks. Analysts say traders have mostly priced in the loss of Libyan oil production and are taking profits.