Gasoline Price Rose 5.6 Cents in Past Two Weeks, Lundberg Says

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Average U.S. retail gasoline prices rose 5.6 cents in the past two weeks to about $2.61 a gallon, according to the latest Lundberg Survey of filling stations released Sunday.The price of is 11 cents higher than this time last year, but 42 cents below the record high reached last Aug. 11 last year, analyst Trilby Lundberg said in her twice-monthly survey, which covered the period of March 10 through Friday.Meanwhile, crude oil rose to its highest level in three months in pre-market trading Monday, following a United Nations’ decision to tighten sanctions against Iran, Bloomberg reported.Crude oil for May delivery climbed 61 cents to $62.89 a barrel in after-hours electronic trading on the New York Mercantile Exchange, the highest since Dec. 26, Bloomberg said.Gasoline prices rose about 37 cents since the end of January, but the most recent uptick marks a smaller increase than in previous weeks, and prices may soon begin to decline, Lundberg said.San Francisco had the highest average price for self-serve regular, at $3.19. The lowest was $2.34 a gallon in St. Louis, Lundberg said.