Increased global demand for oil and ongoing international tensions over Iran’s nuclear program and its decision this week to cut off oil supplies to European countries have continued to fuel, so to speak, an eight-week surge in oil and gas prices that shows no signs of slowing anytime soon. In fact, the Oil Price Information Service predicts gasoline prices could top out as early as late April this year, breaking previous price records last set in July 2008, though AAA Arizona spokeswoman Michelle Donati said she’s skeptical the state, or the nation at large, would be able to maintain prices at that level for very long.
