With oil prices rising, gasoline likely to follow

? Oil prices jumped $1.95 a barrel Thursday and $3.20 over the past two days amid seasonal shutdowns at U.S. refineries and escalating tensions in the Persian Gulf region. That means rising gasoline prices in the weeks ahead.

Oil prices settled at $66.03 at the close of trading Thursday on the New York Mercantile Exchange, the highest closing price since September.

Oil prices surged more than $5 in overnight trading Tuesday on an unfounded rumor that Iran had fired a missile at U.S. warships that are conducting a training exercise in the Persian Gulf.

Adding to the tensions, Iran is holding 15 British sailors who it claims intruded into its territorial waters last week, a charge that British Prime Minister Tony Blair denies.

For motorists, this means gasoline prices will remain high and probably go higher.

The nationwide average for a gallon of regular unleaded gasoline Thursday was $2.62, a March record, according to the AAA motor club. That’s up from $2.37 a gallon a month ago and $2.50 a gallon a year ago.