Average price of a gallon of gas across US has increased 1.87 cents in past two weeks

Average price of a gallon of gas across US has increased 1.87 cents in past two

According to Lundberg Survey, there has been a 1.87-cent increase in the average price of one gallon of regular gasoline across the US in the last two weeks. As a result of the increase, the average country-wide price of regular gas was $3.71 per gallon on Sunday.

Going by the findings of the survey, the average price for one gallon of midgrade gas was $3.90; while one gallon of premium averaged at $4.05. The average price of diesel was $3.95 per gallon.

Among the continental US cities surveyed by the Lundberg Survey, the lowest average price of $3.37 per gallon was recorded at Tucson, Arizona; while the highest average - of $4.15 per gallon - was recorded in Chicago.

In a Sunday statement, industry analyst Trilby Lundberg - the president of Lundberg Survey - said that prices of crude oil have increased due to jitters about Iraqi oil production as the crisis there deepens. With a large part of the increase still to be passed on to the consumers, it is apparent that the coming weeks may witness a further increase in gas prices in the US.

Lundberg said that "there may be further moderate rises in gasoline if crude oil keeps rising;" and added: "The response has been muted so far considering oil prices have risen much more."

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