Gasoline prices rose another 3 cents per gallon in the past two weeks to push the nationwide average for all grades to nearly $1.86 per gallon, according to the Lundberg survey of stations nationwide as reported in the Associated Press on April 26.
Since Dec. 19, the average price has risen 34.55 cents, analyst Trilby Lundberg told the Associated Press on Sunday. The price is also 22 cents higher than a year earlier.
Lundberg said high crude oil prices, tight capacity and soaring demand have all attributed to the increase.
The national weighted average price of gasoline, including taxes, at self-serve pumps on April 23 was about $1.83 for regular, $1.92 for mid-grade and $2.01 for premium.
Lundberg said it was impossible to know whether prices will continue to increase but "it seems more likely than not" as the peak summer travel season approaches, AP reported.
Originally posted on Fleet Financials