Advertisement

The Nation : Gasoline Prices on Rise

The average price of gasoline increased for the fourth straight month, bringing it to a two-year high, an industry analyst said. The uninterrupted price climb is a signal of the impact that the government’s lead-additive “phase down” program will have this summer, oil industry statistician Dan Lundberg said. The overall price of gasoline last week hit a nationwide average of $1.2327, compared to the same week last year, when it was at $1.2070, he said. The government has set July 1 as the date to reduce lead content in gasoline from 1.1 grams per gallon to 0.5 of a gram. Lundberg has predicted regional shortages of gasoline and higher prices as the lead-reduction program goes into effect.


Advertisement