Gasoline prices continued to climb at pumps nationwide, rising more than a penny over the last two weeks in an upward price trend driven by higher wholesale prices, an industry analyst says.
The Lundberg Survey found that the average price of a gallon of gasoline inched up to 100.37 cents by March 17, when 12,000 stations nationwide were surveyed.That was up from 99.22 cents reported in the Lundberg's March 3 survey, which had noted an increase over the Feb. 17 average price of 98.78 cents.
"The increase, although not driven by seasonal consumption this time of year, is a direct result of higher crude oil prices and higher refined product prices," said Trilby Lundberg.
"During the two week period between March 3 and March 17, retailers' buying prices (from their wholesale suppliers) rose even more which means that if the trend continues pump prices could rise even further," she said.
The Lundberg Survey found the average price for a gallon of gasoline at self-service stations, where over 80 percent of consumer gasoline sales are made, was 90.09 cents for regular unleaded, 106.24 cents for premium unleaded and 87.72 cents for regular leaded.
At full-service stations, regular unleaded was 118.72 cents a gallon, premium unleaded was 130.34 and regular leaded was 115.13.