Gas prices rise with no relief in sight yet

July 22, 2013 at 10:04 AM ET

American motorists are bracing for further increases in gas pump prices this summer after average national prices rose 12 cents in the past week alone.

AAA says drivers are experiencing “sticker shock” as increased summer demand, unrest in Egypt and production disruptions in the U.S. and other countries push up the price of crude oil and gasoline.

The national average price for regular unleaded gasoline was $3.67 a gallon on Friday.

AAA says that’s 23 cents more expensive than the same time last year but still below the all-time daily high of $4.11 a gallon on July 17, 2008.

The association says retail gas prices are likely to rise more in the coming weeks.

Unscheduled refinery shutdowns or hurricanes on the U.S. Gulf Coast could also add to price increases.

Renewable Energy Sources Gaining Market Share

Monday, 7/22/2013

In a positive sign for United States energy consumption, a new report shows that the market share of renewable energy sources grew at a larger pace than fossil fuels for the year 2012. Additionally, the first half of this year has seen an enormous surge in renewable energy infrastructure and generating capacity.

For 2012, a decline in the cost of solar and wind infrastructure is partly credited with the surge in use. The International Energy Agency is now feeling more optimistic that renewable sources of energy could make up as much as 25% of global electricity generation by the year 2018.

And in another positive step for America, consumer energy consumption fellsignificantly in 2012, although that was in the wake of increased consumption from corporations.