Lundberg: Gas prices jumped 4 cents in last two weeks

  • Discuss Comment, Blog about
  • Print Friendly and PDF

LOS ANGELES - Gasoline prices nationwide climbed more than 4 cents a gallon in the past two weeks, partly from costs associated with producing cleaner fuel in some parts of the country.

High crude oil prices and rising demand also helped push the average nationwide cost to $1.7134 a gallon Friday, analyst Trilby Lundberg said Sunday.

That was up 4.11 cents from June 9, according to the Lundberg Survey of 10,000 service stations.

Since May 5, the price per gallon has increased 18.39 cents. Crude oil prices accounted for about 12 cents of the increase, with the costs of manufacturing the cleaner fuel making up the rest.

Metropolitan areas with some of the nation's worst air pollution were required to start using a cleaner-burning gas formula by June 1. Lundberg said storing and distributing the new gas to the proper cities sent prices soaring.

''But the price surge is losing steam,'' she said. ''They are solving some of the supply problems associated with the rollout of the new antismog gasoline recipes.''

While prices might begin easing in some areas, they generally will remain high through the high-consumption summer months, she said.

Last year at this time, the average price for all grades was $1.1960.

The national average price of gasoline, including taxes, at self-serve pumps Friday was $1.6674 per gallon for regular, $1.7625 for mid-grade and $1.8467 for premium. At full-service pumps, the average was $1.9757 for regular, $2.0619 for mid-grade and $2.1386 for premium.

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment