Two-Week Survey Shows Record Gasoline Price Jump

An increased demand for gasoline, coupled with lower supplies, pushed average prices up a record 14.36 cents over the past two weeks to nearly $1.38 per gallon, the Lundberg survey reported Sunday.

While the biggest over-the-road trucks use diesel fuel, a significant number of smaller commercial trucks run on gasoline.

Lundberg, which typically reports in two-week increments, said the national weighted average price of gasoline, including taxes, at self-serve pumps on Friday was about $1.35 per gallon for regular, $1.44 for mid-grade and $1.53 for premium.

The previous largest increase was 12.69 cents last April, analyst Trilby Lundberg said. Still, the average price remains well below the $1.56 per gallon motorists were paying just prior to the terrorist attacks, and about 9 cents lower than this time last year.



Among the reasons for the increase are that U.S. oil inventories are down as refineries perform maintenance for a seasonal rise in demand and some refineries serving some urban areas also have to reduce the vapor pressure of their fuel this month to meet emissions requirements.

A recent rise in crude oil prices and the U.S. economic recovery are also playing roles, Lundberg said.

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