Tags: Average | Gasoline | Price | Rises

Average Gasoline Price Rises to $3.57 a Gallon

Monday, 21 Mar 2011 07:02 AM

Gasoline prices in the United States rose 6.65 cents per gallon over a two-week period, carried by the rise in crude oil prices stemming from the turmoil in Libya, an industry analyst said.

The national average for a gallon of self-serve, regular gasoline was $3.57 on March 18, according to the Lundberg Survey of about 2,500 gas stations.

The 6.65-cent increase came two weeks after gasoline prices jumped almost 33 cents in the prior two-week period, according to survey editor Trilby Lundberg.

"This is the rest of what crude oil prices did to gasoline, as violence and protest in varying degrees swept through" oil-producing countries in the Middle East and Africa, Lundberg said in an interview on Sunday.

Prices in crude oil "declined somewhat in the last two weeks," she said, citing some traders' fears that the earthquake, tsunami and nuclear crisis in Japan "might mean economic devastation."

But after U.S. and European forces started a military intervention in Libya this weekend, oil prices may be headed for another spike, according to Lundberg.

"This weekend the world has changed. ... Instead of seeing the end of the price rise coming up, or even a decline, we might see a resumption of the climb at the pump," she said.

The current average price is nearly 76 cents above the year-ago level, but is still about 54 cents below the all-time high of $4.1124 on July 11, 2008.

© 2017 Thomson/Reuters. All rights reserved.

1Like our page
2Share
Headline
Gasoline prices in the United States rose 6.65 cents per gallon over a two-week period, carried by the rise in crude oil prices stemming from the turmoil in Libya, an industry analyst said.The national average for a gallon of self-serve, regular gasoline was $3.57 on March...
Average,Gasoline,Price,Rises
236
2011-02-21
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved