Middle East turmoil pushing oil higher again

Published July 19, 2012 7:54pm ET



NEW YORK (AP) — Rising tensions in the Middle East have pushed oil prices up 19 percent over the past three weeks and are leading to a rise in prices at the gasoline pump.

Since the start of July, average gasoline prices in the U.S. have climbed 11 cents to $3.44 per gallon. Pump prices are expected to creep higher in the coming weeks, and they aren’t likely to fall back to their June low of $3.33 for the rest of the summer, analysts say.

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