LOS ANGELES (AP) Get ready for a little bit more pain at the pump this summer.
Crude oil prices are at the highest level in more than three years and expected to climb higher, pushing up gasoline prices along the way.
The U.S. daily national average for regular gasoline is now $2.81 per gallon. Thats up from about $2.39 per gallon a year ago, according to Oil Price Information Service. And across the U.S., 13 percent of gas stations are charging $3 per gallon or more, AAA said last week.
This will be the most expensive driving season since 2014, said Tom Kloza, global head of energy analysis for Oil Price Information Service.
The price of U.S. crude oil has been on a mostly steady incline since last June and last week hit $68.64, the highest since December 2014. Benchmark U.S. crude closed Friday at $68.10. Oil prices near $70 shouldnt put the brakes on economic growth, however. While theyre boosting costs for some sectors of the economy, the energy sector and related industries have more money to spend on equipment and workers.
But higher oil prices are certainly an inconvenience for drivers, especially those with lower incomes.
