Gas prices climb toward $2 - Denver Business Journal:

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The price for a gallon of reguladr gas in Cincinnati isabout $1.91 as of up from $1.88 on this day last Across the river in the per-gallon price jumpeds to $1.96 from $1.87 a month ago. Pricesz are rising despite crude oil's declining prices, most recentlyy as low as $34 a barrel. Crude oil was up to well over $100 last before the stock market crash, when gas prices averagedf in excessof $4. But the currentr price jump isn’t that much of a according to an AssociateedPress story. Crude oil prices are benchmarked by the New YorkMercantiler Exchange, based on the pricee of West Texas Intermediate crude.
There’s an oversupply of that product now, but not the overseas crude, whic h is used to refine most gasoliner inthe U.S. Tom Kloza, publisher and chief oil analystg for the Oil PriceeInformation Service, told the AP that he expectas the average per-gallon price to top $2 and most likely hit $2.50 before spring.