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8/27/2012 8:15:00 AM Write a Letter to the Editor Write a letter to the Editor

Gasoline Gains 7¢ in Two Weeks to $3.76 a Gallon, Lundberg Survey Reports

Oil Price Fluctuates as Isaac Enters Gulf

Larry Smith/Trans Pixs

Gasoline rose 7 cents in the past two weeks to $3.76 a gallon, and oil prices swung lower as Tropical Storm Isaac entered the Gulf of Mexico.

Midgrade’s average is $3.91 per gallon, and premium is at $4.04, analyst Trilby Lundberg reported in the latest Lundberg Survey of filling stations released Sunday.

El Paso, Texas, had the lowest price among cities surveyed, at $3.32 per gallon, while Chicago was the highest, at $4.22.

Meanwhile, oil prices declined after earlier topping $97 a barrel as Tropical Storm Isaac moved into the Gulf of Mexico, prompting removal of workers from Gulf oil rigs, Bloomberg reported.

Crude futures rose to as high as $97.72 a barrel in early New York Mercantile Exchange, the highest price since May, before later falling below $95, Bloomberg reported.

Isaac, which forecasters predicted would strengthen into a hurricane by Tuesday, was on a path to make landfall near New Orleans by Tuesday evening after passing west of Florida over the weekend, news services reported.

By Transport Topics

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