Oil Prices Peaked for Summer?

Gas prices continue to climb with Oregon's average for regular unleaded gaining nine cents in the past week to $2.78, while the national average adds five cents to $2.67.

AAA Oregon Public Affairs Director Marie Dodds says, "Oregon's average was $1.75 on Jan 1, 2009, and the national average was $1.62 then. Prices have jumped about 60 percent since the start of the year, which is the largest percentage increase we've seen since the '70s."

Pump prices have risen as the price of crude oil has dramatically increased. Crude started the year around $40 per barrel, spent much of the spring around $50 and has been around $70 the past couple weeks. Crude is trading around $70 today. Read More>>