News bites: Gas prices moving toward $4 per gallon

The Associated Press reports that gas prices could reach a national average of $4 per gallon very soon.

U.S. and Libyan officials are investigating the past relationships between oil companies and the former Gadhafi regime, The Wall Street Journal reports.

AP reports: “So much natural gas is being produced that soon there may be nowhere left to put the country's swelling surplus.”

A state-owned Mexican oil company is planning to drill in the Gulf of Mexico, raising concerns, McClatchy reports.