Double-digit increase for NEO gas prices

March 8, 2011 at 5:18p.m.

Gas prices soared again in Northeast Ohio.

This week’s increase was 10.7 cents per gallon, bringing the average price for a gallon of self-serve, regular unleaded gasoline to $3.485.

According to AAA’s Fuel Gauge, Monday marked new multiyear highs for both crude oil and gasoline prices as violence continues in Libya and worry remains surrounding instability in the larger region.

Crude prices broke through the $100 barrier last week and Monday, for the first time since October 2008, oil began a week trading above $100 per barrel, settling up $1.02 at $105.44. This marks a more than $8 per barrel week-on-week increase and a new 2011 high.