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Crude Rally Raises Pump Prices

The Associated Press reports that a market rally on crude oil has Americans paying more at the pump this week.

The national average for a gallon of regular unleaded rose 2.1 cents to $2.747 a gallon, according to AAA, Wright Express and Oil Price Information Service. Oil has traded above $82 for two straight days. It was around $77 a week ago.

Motorists are paying about 2.3 cents more than a month ago and 18.6 cents more than a year ago.

In addition to this rally, commercial oil reserves are steadily depleting. This will likely translate into higher gas prices at the pump throughout the summer. Naturally, this will add extra costs to fleet managers and the average consumer alike.

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