April gasoline rose 6.94 cents to $2.0677 a gallon, its highest since Aug. A BP refinery in Indiana is running below pace after a small fire there, reports say. That's the latest in a slew of refinery woes. Crude rose 63 cents to $62.91, a 3-month high amid rising tensions with Iran, OPEC's No. 2 producer. Retail gas prices are up 42 cents in the last 7 weeks to $2.655 a gallon.
Here's a daily chart of gasoline prices.
While that chart looks like prices are out of control, notice in the chart below the seasonality of gas prices. Gas prices this year (denoted as #2) are more or less following the same pattern as last year (denoted as #1). Gas prices typically spike in the summer.
