NEO gas prices rise more than 3 cents

Gas prices increased 3.4 cents a gallon this week in Northeast Ohio. The current average price for a gallon of regular, unleaded gasoline is $3.222.

According to AAA’s Fuel Gauge, crude oil prices moved slightly higher to close at $100.99 per barrel for West Texas Intermediate (WTI) crude at close of Monday's formal trading on the NYMEX. Equities markets continued to surge on positive signs for the U.S. economy and renewed optimism that Europe may address its debt crisis.

These same factors, along with weakness in the U.S. dollar and geopolitical concerns with Iran, put upward pressure on oil prices as well.

The average price for a gallon of unleaded gasoline the week of Dec. 7, 2010, was $2.96.