GOLDEN VALLEY, Minn -- The price for a gallon of regular unleaded hit $3.79 at several gas stations in the Twin Cities on Monday.
Gas prices have been rising with the price of oil. On Monday, crude oil futures closed above $108 a barrel on the New York Mercantile Exchange. The near-month contract for the benchmark grade rose 53 cents.
Analyst and trader Stephen Schork said sagging demand in the U.S. may eventually pull oil prices down from their highs this year, but so far most traders seem to be waiting for the Middle East to cool off.
Fighting in Libya and unrest in the Middle East continued to raise doubts about future oil supplies.
(Copyright 2011 by KARE and The Associated Press. All Rights Reserved.)