Lundberg Survey: Gas Prices Spike 20 Cents in Past 2 Weeks

Published March 12, 2007

| Associated Press

Gasoline prices have gone up an average of 20 cents per gallon nationwide in the past two weeks.

The retail price of self-serve regular gas rose to $2.55 cents per gallon, according to the latest Lundberg Survey released Sunday.

As of Friday, a gallon of midgrade gasoline averaged about $2.66, and premium cost nearly $2.76, according to the survey of 7,000 gas stations across the country.

Nationwide, the highest average price for regular gas was $3.10 per gallon in San Francisco. The lowest, at $2.22 per gallon, was in Anchorage, Alaska.

Concerns over falling gasoline inventories from decreased refinery production and fewer imports have boosted oil and gasoline prices lately. On Wednesday, the government reported that total U.S. motor gasoline inventories fell by 3.8 million barrels to 216.4 million barrels, a sharper decline than the 1.4 million barrel drop that analysts had expected.

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http://www.foxnews.com/story/2007/03/12/lundberg-survey-gas-prices-spike-20-cents-in-past-2-weeks