Gas prices top $3.50 a gallon

Gas prices continue to soar across the country and in Delaware.

The national average for a gallon of regular gasoline today is $3.51, a new 29-month high. It’s up 14 cents in the past week, 39 cents in the past month, and is just 60 cents shy of the all-time high of $4.11 a gallon set in July 2008.

The price in Delaware is up to $3.43 a gallon.

With continued unrest and production stoppages in Libya driving crude oil prices higher, analysts believe prices will reach $3.75 a gallon by April.

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“Motorists are certainly feeling the pinch at the pump this week, with double-digit price increases in gas prices and no sign of any retreat anytime soon,” said Jana L. Tidwell, Public Affairs Specialist for AAA Mid-Atlantic.  “Prices at the pump are in a state of flux right now.”

Officials at the White House say all options are being considered for a short-term response to rising oil prices.

President Barack Obama’s Chief of Staff says the administration is looking at the nation’s oil reserves as it considers ways of dealing with the spike in gas prices.

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