CAMARILLO, Calif. – Gasoline prices, which have risen steadily since February, jumped more than 8 cents in the past two weeks.
Friday's weighted price per gallon for all grades and taxes was $1.46, up 8.44 cents per gallon from March 22, according to the Lundberg survey of 8,000 gas stations nationwide. Since Feb. 8, prices at the pump have increased 32 cents.
"Continued crude oil price strength accounts for more than half of that price increase," analyst Trilby Lundberg said Sunday.
Nervousness among oil traders about the worsening crisis in the Middle East could also play a role in the higher prices, she said. Other factors pushing prices up include a seasonal increase in demand and an improving economy.
Despite two months of increases, gasoline prices are lower than they were at the same time last year, when gas cost $1.54 a gallon.
Friday's average price was 10 cents lower than pump prices on Sept. 7, just before the terrorist attacks. Prices dropped to a low of about $1.12 in December.
The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.43 per gallon for regular, $1.53 for mid-grade and $1.62 for premium.