Average Gas Prices Hit $3.63; CSX Beats Earnings Expectations

CSX (NYSE:CSX) shares climbed higher after hours following better-than-expected second-quarter results. The railroad company posted a larger quarterly profit as the benefits from its inter-model business helped offset a drop in coal volumes.

Drivers beware: the pain at the pump will soon become even worse. Experts are predicting gas prices will rise up to 15 cents per gallon by the end of the month. The national average for a gallon of regular currently stands at $3.63.

Diamond Electric pled guilty to price fixing and will pay a $19 million criminal fine for its role. The Justice Department says the Japanese auto supplier rigged bids and fixed prices on ignition coils it to sold to several companies, including Ford and Toyota. The DOJ says the conspiracy lasted from 2003 through 2010.