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4/21/2014 8:30:00 AM Write a Letter to the Editor Write a letter to the Editor

Gasoline Rises to 13-Month High $3.69 a Gallon, Lundberg Reports

Larry Smith/Trans Pixs

The average price for U.S. regular gasoline rose 8.5 cents in the past two weeks to a 13-month high $3.69 a gallon, according to latest Lundberg Survey released April 20.

The twice-monthly survey covered the two-week period ended April 18 and is based on information obtained at about 2,500 filling stations by the Camarillo, Calif.-based Lundberg Survey.

Prices are at their highest since March 22, 2013, and the average is 15.6 cents higher than a year ago, Lundberg said. Gasoline has risen almost 40 cents since bottoming out in February, and is up 43 cents this year.

“The most important factor right now in this rise is crude oil, which rose by a very similar amount to the street-price move,” analyst Trilby Lundberg said April 20.

“From here, we will probably see very little increase, if any, with the big caveat of course being crude. If crude prices climb even higher, then this may not be the peak,” she said.

The highest price in the lower 48 U.S. states among markets surveyed was in Los Angeles, at $4.26.  The lowest was in Salt Lake City, at $3.29.

By Bloomberg News

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