Blame The North Sea For Rising Gas Prices

Experts continue to point their fingers at Europe for rising gas prices. Last month the continent’s credit crunch was the culprit, and this month it’s rising prices of Brent crude oil in the North Sea that’s guilty of pushing gas prices up to an average of $3.51 per gallon as of the end of last week.

Reuters reports gas prices have launched nearly 12 cents in the past three weeks and are expected to continue to rise in the short term. Experts say the North Sea crude increases are a reaction to volatility in the Middle East.

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Price of gas up nearly 12 cents in last 3 weeks [Reuters via MSNBC]