Gas Prices Rise

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Gas Prices Rise

10/15/2002
CAMARILLO, Calif. -- Retail gasoline prices jumped almost 3 cents during the past two weeks, the first major spike in prices in six months, according to the Lundberg Survey of 8,000 gas stations and convenience stores nationwide.

The average price for gas nationwide, including all grades and taxes, was about $1.49, up 2.93 cents from the previous survey Sept. 27, the survey said

Continued strong crude oil prices, plus higher demand at the pump, contributed to the rise in prices, analyst Trilby Lundberg said. "Fears about the Middle East crisis have kept crude oil prices high," she said, adding that travelers' continued reluctance to fly was also a factor.

Until the latest survey, the price of gasoline had remained steady since April 5, Lundberg said.

The national average price of gasoline, including taxes, at self-serve pumps was about $1.45 a gallon for regular, $1.55 for mid-grade and $1.64 for premium.