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Retail gasoline prices have gone up 15 cents in the past two weeks. The increases can be traced to investor speculation leading to higher prices for both crude and wholesale gasoline. With crude trading around $64 a barrel, it doesn't appear likely gasoline will fall below $2 a gallon anytime soon.
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This is the time of year when steep price increases are common, but this year, there is added uncertainty about whether there will be sufficient gasoline supplies later in the year. It may be several weeks before the picture of the nation's production becomes clear, but in the meantime, motorists may experience steadily rising pump prices.