US: survey sees rising gasoline prices image

According to Lundberg Survey Inc., in a research conducted until April 4 and based on info taken from 2,500 filling stations – the average regular gasoline price has jumped by 4.9 cents in the last two weeks, reaching $3.6065 a gallon.

While the price is now the highest since July 26, the actual average retail price is 4 cents lower than in 2013, according to the Camarillo, California-based company.

“In general, the uptrend has been losing steam,” Trilby Lundberg, the president of Lundberg Survey, said in an interview. “This is a modest rise. Demand is higher than it was during the same period one year ago.”

The best price among the surveyed 48 states was registered by Lundberg in Billings, Montana, where pump station prices were averaged at $3.20 a gallon, while the biggest price is – no surprise – registered in Los Angeles, at $4.04 a gallon.

Energy Department data shows that in the week ended March 28, demand for gasoline dropped 3.5% but actually remained 0.8% above the five-year seasonal average. Energy Information Administration data also shows that motor fuel inventories across the country went down by 1.57 million barrels to 215.6 million, the lowest since November in the same period of time.

Via Bloomberg