Rising gas prices

Many local stations at or near $4 mark

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by Mike Strehlow

Milwaukee--The average price for a gallon of gas in Milwaukee reached
$3.92 Monday, according to Triple A.

That's more than it's ever been for this time of year, and a whopping 55 cents higher than just a month ago.

The chairman of the economics department at Marquette University believes three factors are fueling the increase.

Professor Abdur Chowdhury says the standoff over Iran's nuclear program has pushed oil prices higher.

Also, refineries are switching more expensive, smog-fighting summer blends.

And some in congress believe Wall Street speculators have artificially driven gasoline prices higher.

"Prices will go up for the next couple of weeks. And then I think unless there are more developments in the middle east, prices will tend to stabilize," said Chowdhury.

Chowdhury says $4.50 for gas this summer isn't out of the question.

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