Libya Crisis Sparks Oil, Gas Price Jump

MyFoxNY.com
Updated: Tuesday, 22 Feb 2011, 10:19 AM EST
Published : Tuesday, 22 Feb 2011, 9:01 AM EST




    MYFOXNY.COM - Anti-government protests in Libya are being felt in the United States.
    Crude oil prices have jumped pushing up the price of gasoline.

    The violence in Libya, which supplies approximately five percent of the oil consumed in the United States, could continue to make things worse and increase gas prices.

    Currently, the national average of regular gasoline prices hovers around $3.16, which is much higher than the national average one year ago, which was $2.62.

    In New Jersey, where gasoline prices are often the lowest in the nation, a gallon of regular gas costs motorists about $3.06. In New York, the price is higher at $3.48. And in Connecticut, regular gas costs $3.37 per gallon.
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