NEO gas prices increase 2 cents

After three straight weeks of declining gas prices, northeast Ohio fuel prices increased 2.1 cents per gallon. Currently, the average price for a gallon of self-serve, regular unleaded gasoline is $3.787.

According to AAA’s Fuel Gauge, crude-oil prices rose, after a week in which prices moved back above the $100 per barrel level. At the close of formal trading Tuesday on the NYMEX, crude oil settled up $2.11 at $102.70.

Crude-oil prices moved higher again behind positive global economic news, a weaker U.S. dollar and the shutdown of the Keystone Pipeline over the weekend. The pipeline carries 590,000 barrels per day of crude oil from Canada to the Midwest and was closed due to a reported leak. It has not yet been announced how long the pipeline will remain offline, but a temporary shutdown for a few days would not be expected to have a significant impact on supply or prices.

Most analysts credited the rise in crude prices primarily to optimistic global economic news and the weaker dollar.