Quick Stats

Quick Stats

    You are here

    Lundberg: Gasoline Prices Continue to Rise

    Demand up 1 percent in first two months of 2009.

    NEW YORK -- The U.S. average retail gasoline price continued to edge up as oil prices rose and demand increased, according to a Reuters report of the latest nationwide Lundberg survey of gas prices.

    The average national price for self-serve regular unleaded gasoline was $1.9625 a gallon March 6, up 1.82 cents per gallon in the past two weeks, Lundberg reported.

    The average price increased approximately 30 cents from a recent bottom on Dec. 19, but is still $2.15 below the all-time high of $4.1124 per gallon set last July. The current average gas price is down $1.23 from the same period last year.

    Demand fell sharply after last summer, when high prices drove consumers from the pumps. But a sharp price drop from July to December is beginning to bring motorists back, survey editor Trilby Lundberg said in an interview with Reuters. Demand for gasoline increased 1 percent in the first two months of 2009, compared with the same period last year.

    Gasoline prices also were fueled by a rise in crude oil prices in the last two weeks.

    "Those two conditions are likely to be extended toward the spring season," Lundberg said, adding gasoline prices could climb between 5 and 25 cents in coming weeks.

    • About

    Related Content

    Related Content