Higher prices in the West and a temporary slowdown in production pushed the average nationwide price of gasoline up .7 cents to $1.44 per gallon in the past two weeks, according to the Lundberg Survey released June 23. Prices dipped in most regions of the country, analyst Trilby Lundberg said, but larger hikes in some western states offset falling national prices.
The national weighted average price of gasoline, including taxes, at self-serve pumps on June 21 was about $1.41 per gallon for regular, $1.51 for mid-grade, and $1.60 for premium. The current price is about 19 cents below the price at this time last year. Lundberg noted that pump price direction will be determined mostly by the outcome of the Organization of Petroleum Exporting Countries' upcoming crude oil production decision.
Originally posted on Fleet Financials