Published On: Wed, Mar 11th, 2015

Gas Prices Surge but Still Way Lower Than Last Year

Gas Stations Love Low Prices

The average price of regular grade gasoline rose 21 cents in the past two weeks, bringing it to $2.54 a gallon, according to the Lundberg survey released Sunday.

Prices bottomed out on Jan. 23.

However, the price for gasoline is still lower by 97 cents than it was a year ago, when the average was about $3.51 a gallon.

Trilby Lundberg, publisher of the survey, noted that the cost for crude oil is mostly unchanged. She cited other factors that are accountable for the climb at the pump: Refiners and retailers are making more money on gasoline and deadlines for regulations affecting the summer blend are starting to come in.

The lowest-price gasoline in the survey area of the 48 contiguous U.S. states was in Baton Rouge, Louisiana, at $2.16 a gallon. The highest price was in Los Angeles, at $3.48 a gallon.

Prices are highest in Los Angeles because of the summer blend regulation deadline and California’s global warming laws, Lundberg said.

[source : dailyfinance.com]