Gasoline Rises After Five Months of Decline, Lundberg Says

The national average price of regular gasoline increased for the first time since early July, rising 11.7 cents to $1.779 a gallon during the two weeks ended Friday, according to the latest Lundberg Survey of filling stations released Sunday.

The average is still less than half the July 11 all-time high of $4.11 a gallon, analyst Trilby Lundberg in her filling-station survey, which is released twice a month.

Lundberg predicted that drivers would not see significant changes in gas prices in the coming months. The economic downturn will keep prices low while OPEC cuts production in an attempt to increase prices, Lundberg told Reuters.

The price of gas has “bottomed out” after the major fall it has experienced since the summer peak, Lundberg said.

The highest price for self-serve regular gasoline was $2.32 in Anchorage, Alaska, while the lowest was in Billings, Mont., at $1.34.