Gasoline Hits $4 National Average, Lundberg Survey Says
Gasoline’s national average has reached $4 a gallon, about a dime below its all-time high, according to the latest Lundberg Survey of filling stations released Sunday.
The price rose 12 cents in the past two weeks on continued high oil prices, analyst Trilby Lundberg said in her twice-monthly report.
Gasoline’s all-time average was $4.114 per gallon, set on July 7, 2008, according to U.S. Department of Energy records.
Oil hit a two-and-a-half-year high $113.93 a barrel on April 29 before plunging late last week to below $100 a barrel. Crude futures bounced back higher by about $3.50 in early trading Monday, Bloomberg reported.
Tucson, Ariz., had the lowest gas average among cities surveyed, at $3.62 a gallon, while Chicago had the highest, at $4.50.
DOE will release its weekly survey of diesel and gasoline prices Monday afternoon in Washington.
