Gas Prices Rise Half a Cent in 2 Weeks
Gas prices rose only half a penny a gallon in the last two weeks, continuing an unusual 20-week trend of mostly steady prices.
The average price for gas nationwide, including all grades and taxes, was about $1.46 a gallon Friday, according to the Lundberg survey of 8,000 stations released Sunday. That was up 0.5 cent per gallon from Aug. 9.
Prices have shown little change since early April, when a gallon of gas also cost about $1.46, said analyst Trilby Lundberg.
“In any recent memory it is extraordinary for prices to be so little changed for 20 weeks, particularly at a time of such great demand from early spring to late summer,” she said Sunday.
Last year, for example, prices started around $1.54 in early April before climbing to $1.76 in mid-May and falling to $1.51 by late August. In 2000 it was the same pattern: A gallon of gas cost $1.57 in early April, jumped to $1.71 in late June and fell to $1.55 by late August.
This year there was no such midsummer spike. Lundberg said that was the result of stability in crude oil prices and at U.S. refineries.
Gas today remains about a nickel cheaper than a year ago. On Aug. 24, 2001, the average weighted price for a gallon of gas was about $1.51, Lundberg said.
The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.42 per gallon for regular, $1.52 for mid-grade and $1.61 for premium.