The average price for regular gasoline at U.S. pumps rose 4.74 cents in the past two weeks to $3.5572 a gallon, the highest since Sept. 20, according to Lundberg Survey Inc.
The survey covers the period ended March 21 and is based on information the Camarillo, Calif.-based company obtained at about 2,500 filling stations. The average is 15.02 cents below a year ago.
“It’s been six weeks of rising prices at the pump, but this is a pace that has greatly slowed,” Trilby Lundberg, the president of Lundberg Survey, said March 23 in a telephone interview.
Consumers are paying more even as oil and gasoline futures have fallen because the price for ethanol, the government-mandated fuel additive, has risen, Lundberg said.
“Higher ethanol prices add about a nickel at the pump,” Lundberg said.