The average U.S. retail price of a gallon of gasoline was $3.294 on Feb. 7, a slight decrease from two weeks prior, according to Lundberg Survey Inc.
The price fell 1.69 cent from the Jan. 24 survey, Lundberg said in a report released Feb. 9. It is 29.74 cents lower than a year ago.
“Prices don’t seem to be falling further from this point,” Trilby Lundberg, the president of Lundberg Survey, told Bloomberg News. “Retailers got wholesale gasoline-price hikes, which have not been passed through to consumers.”
Lundberg predicted increases of “a few pennies per gallon” in the near future. Lundberg surveys about 2,500 filling stations for its biweekly reports.
The highest gasoline price in the contiguous United States was $3.63 a gallon in San Diego. The lowest was $2.99 a gallon in Billings, Mont.
The Department of Energy is scheduled to release its weekly survey of diesel and gasoline prices the afternoon of Feb. 10.