Average price for unleaded rises to $2.61

Gas prices in Houston surge as crude oil prices top $70 a barrel, costing about 43 cents a gallon more than last year.

Gasoline prices in Houston and across the United States surged last week as crude oil prices topped $70 a barrel for the first time since 2014.

The average cost of a gallon of regular unleaded in the Houston area increased 4.5 cents to $2.61, while the national average increased nearly 6 cents to $2.86 a gallon, according to GasBuddy, which tracks fuel prices nationwide.

In Houston, gasoline costs 43 cents more than it did at this time last year. Nationally, prices have increased by nearly 54 cents during the same period.

The seasonal uptick in gasoline prices tapered off earlier this month as refiners completed the transition to pricier fuel blends that reduce emissions during the busy summer driving season.

But the Trump administration's decision to withdraw from the Iran nuclear deal has driven up the price of oil with the threat of renewed economic sanctions on that country, a major producer in the Organization of the Petroleum Exporting Countries.

Patrick DeHaan, head of petroleum analysis for the GasBuddy fuel price tracking service, said there is a substantial chance that gasoline prices could climb above $3 a gallon for the first time since 2014 if crude prices continue their rally in the coming weeks.