More than a month after the Obama administration said it would tap the country’s emergency oil reserve to try to combat supply disruptions in the Middle East, gas prices at the pump actually have risen 10 cents.

President Obama had hoped the move, coming at the onset of the summer driving season, would temper the loss of supplies due to the ongoing civil war in Libya. Working with international allies, the U.S. said on June 23 that it would release 30 million barrels of oil over 30 days, while other countries with strategic reserves agreed to release another 30 million, in staggered sales during July.

And prices at the pump did dip, at first, from a nationwide average of $3.61 down to $3.55, according to AAA. But by last week, they had rebounded and the price per gallon stood a dime higher than when the administration first made its decision.

“Although it helped initially to pull down prices it was probably too little,”

Data provided by Oil Price Information Service in cooperation with Wright Express.

Current State Averages: Click on state for detailed information. Prices Are In US Dollars Per Gallon.

Oil prices are climbing after two new reports offered some positive news about jobs.

Benchmark oil for August delivery gained $1.77 at $98.42 per barrel Thursday morning on the New York Mercantile Exchange. In London Brent crude rose $2.78 to $116.40 per barrel on the ICE Futures exchange.

The Labor Department says applications for unemployment benefits dropped last week to the lowest level in seven weeks. And payroll processor ADP says the private sector added 157,000 jobs last month, more than double what economists forecast.

The government's weekly report on oil supplies and demand comes out later Thursday.

AAA says the national average for gas prices is up 1.4 cents to $3.583 a gallon.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

Oil prices rose to above $97 a barrel Thursday as a report showed U.S. crude supplies fell more than expected for a second week, suggesting demand is improving.

Oil prices have surged in the last few days and are now less than a dollar from where they were when President Obama made the controversial decision to tap the nation's strategic reserve last Thursday.

On Thursday, West Texas Intermediate crude edged lower to $94.27 a barrel. But that's still nearly $5 higher than last week, when prices fell over 4% following the oil release announcement.

Travelers and commuters feeling the pain at the pump should prepare for another financial hit -- at the tolls. 

As the summer travel season gets under way, several states are considering or have already approved steep hikes in the fees drivers pay to cross bridges, highways and tunnels. 

Particularly in the mid-Atlantic region, local transportation boards scrambling to find more money for maintenance and other projects are decisively turning to toll booths to pay the way. 

And the changes will not be gradual. 

In Maryland, where some of the most sweeping increases have been proposed, the Maryland Transportation Authority earlier this month unveiled its plan to raise rates at seven of its eight facilities. 

When Debra Neel went to check out used Jeeps recently in Indianapolis, she left with a bad case of sticker shock.

"We were looking around $4,000 or $5,000 for a good used car for a teenager," but "you can't find them anymore," said Neel. That was readily confirmed by Bob Falcone, president of Falcone Volkswagen, Subaru & Saab in downtown Indianapolis.

Falcone said that a couple of years ago, Neel might have been able to get the 12-year-old Jeep she was considering at her $4,000 to $5,000 price point. The 2000 model on the lot, after all,  has almost 90,000 miles on it and gets only 16 miles to the gallon.

Its price tag today: $13,900.

"It's unbelievable," Falcone acknowledged. He said the used car market is the strongest it has ever been in his 34 years in business.

Scottish Power became the first of the six major suppliers to disclose a new round of price rises. It told five million customers that gas and electricity bills would go up by 19 per cent and 10 per cent respectively.

The increase, which will take effect on Aug 1, will push households’ average annual bills to almost £1,400; the highest level ever.

Other energy suppliers are expected to follow suit and increase their prices within weeks.

The announcement is a fresh blow to households whose budgets have been squeezed after repeated increases in inflation. The Bank of England has previously warned that rising energy bills are likely to be one of the main factors behind the continued rise in the cost of living.

The Spanish-owned company, which made an operating profit of approximately £800 million last year, blamed the increases on a “prolonged” rise in wholesale gas and electricity prices, which have jumped 30 per cent since November.

Gas prices are back on the rise around central Indiana.
Eyewitness News found gas for $4.15 a gallon at a station at 16th Street and Shadeland. According to AAA, the average price for gas in Indianapolis is $3.82.

Last month, Hoosiers were paying $4.16 a gallon and last year, the average price for a gallon of regular unleaded was $2.54.

Surging wheat and corn prices could hit the items in your grocery basket by mid-summer if planting conditions across the country don't improve.

It's a case of two extremes: dry weather conditions in parts of the southern United States and in Europe have sparked fears of a supply crunch of wheat, while supplies of corn are being threatened by flooding and heavy rain in the Midwest.

Wheat futures rose for a fourth consecutive session on Thursday, and prices are up more than 10% from a week ago. Corn futures were mixed Thursday after rising for five days, and are up nearly 12% over the past week.

While it typically takes time for increases in the futures markets to translate into price hikes at grocery stores, consumers could be in serious trouble if supplies continue to dwindle and prices keep going up.

As gas prices hover near $4 a gallon, nearly seven in 10 Americans say the high cost of fuel is causing financial hardship for their families, a new USA TODAY/Gallup Poll finds.

More than half say they have made major changes to compensate for the higher prices, ranging from shorter trips to cutting back on vacation travel.

For 21%, the impact is so dramatic they say their standard of living is jeopardized.

Nationally, the price of a gallon of regular gasoline averages $3.96. That's up 38%, or $1.09, from levels a year ago.

In seven states, gas prices have passed July 2008's record of $4.11 a gallon.

Ridiculous theory ignores weak dollar, rise in energy prices. A sustained corporate media propaganda campaign has been initiated in order to bolster attempts by the Bush administration to further ease restrictions on how foreign laborers can be brought in

"Another month of falling sales and rising inventories tells us the housing market is still a basket case," said Joel Naroff, chief economist at Naroff Economic Advisors Inc. "It is going to take a long time to work off that imbalance and undoubtedly pric

The decline in U.S. home prices accelerated nationwide in July, posting the steepest drop in 16 years, according to the S&P/Case-Shiller home price index released Tuesday. Home prices have fallen by more every month since the beginning of the year.

Us: How much do local prices have to come down to meet buyer’s wallets in today’s climate? Mark: Prices have already fallen fairly significantly for new homes, but resale home prices are lagging behind in terms of a needed downward adjustment. Most ne