Oil Prices Climbing Slowly

Residential prices across New England were up some 12 cents per gallon between February 16 and February 25, from 2.94 to 3.15, according to the Energy Information Administration.

The increase suggests, along with gasoline prices and other fuels moving up that the shock of OPEC’s big news that they wouldn’t be slowing production is wearing off.

Prices bottomed out at 2.77 at the beginning of February.

Similar increases were reported across the country with prices bumping up 14 cents in the Mid Atlantic to 3.08, and four cents in the Midwest to 2.59. Prices bumped up in the southern Atlantic states by four cents.