Gasoline pump prices are soaring

U.S. consumers facing the highest gasoline pump prices ever for February may see further increases as global crude oil futures climb and breakdowns and seasonal maintenance at refineries reduce fuel supplies.

Gasoline futures have surged 11 percent this year. Prices at the pump are up 14 percent this year and have risen 33 straight days, according to AAA data.

Regular gasoline has jumped 45.6 cents this year, the fastest increase in AAA data back to 2005. Prices may peak earlier than they did last year, according to Avery Ash, a spokesman for AAA.

- Bloomberg

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