July 11, 2005 8:00 AM, EDT

Lundberg: Gasoline Prices Continue to Rise

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verall gasoline prices rose 9 cents to a record $2.33 a gallon for all grades of gasoline, according to the most recent Lundberg survey of filling stations.

Self-serve regular grade gasoline averaged $2.31 a gallon nationwide for the period ended Friday, up from $2.21 June 24, Lundberg reported. Midgrade averaged $2.40 and premium-grade hit $2.50.

The overall average surpassed the prior $2.32 record set in April, said analyst and report author Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 U.S. filling stations.

With the pass-through of Hurricane Dennis this weekend crimping Gulf of Mexico oil production, pump prices could rise more, Lundberg said.

Lundberg noted demand for gasoline was up 2.5% compared to last June, despite higher prices. A stronger economy made the price “more absorbable” for consumers, she said.

Among the stations included in the survey, the highest price for unleaded regular was in San Diego, at $2.55 a gallon. The lowest was in Charleston, S.C., at $2.09 a gallon.