Lundberg Survey: Gas Prices Surge 20 Cents
CAMARILLO, Calif. — Gasoline prices have surged to a record nationwide average of $3.07 per gallon, nearly 20 cents higher than two weeks earlier, according to oil industry analyst Trilby Lundberg.
The previous record was $3.03 per gallon on Aug. 11, 2006.
But despite inventory fears that have sent prices higher, there are signs that the rising prices at the pump may be peaking.
Just two weeks ago, the U.S. average for a gallon of regular gas was $2.87, but the Lundberg Survey of 7,000 stations nationwide on Friday showed an increase of about 19.5 cents to $3.07. That’s up 88.4 cents since Jan. 19, Lundberg said.
The nationwide average for mid-grade gasoline was $3.18 and premium was $3.28.
The nation’s lowest average pump price was $2.80 per gallon in Charleston, S.C., while the highest was $3.49 in San Francisco.
The recent increases are due mostly to refinery problems, Lundberg said, noting there have been at least a dozen additional partial shutdowns in the U.S. and internationally that cut refining capacity.
Source: www.foxnews.com
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