Gasoline Edges Up

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Gasoline Edges Up

CAMIRILLO, Calif. -- U.S. average retail gasoline prices rose slightly over the last two weeks, reflecting a small tightening of supply, according to the Lundberg Survey of 8,000 convenience store nationwide.

U.S. average retail gasoline prices rose slightly over the last three weeks, but supplies proved enough to satisfy vacationers' demand for fuel over the summer holiday driving season, said analyst Trilby Lundberg.

The national average price of gas at the pump was about $1.46, according to survey. That was up 1.68 cents from July 12.

The national average for self-serve regular unleaded gas rose about one and two-thirds cents to $1.43 per gallon, for the three weeks ended July 26, according to the survey. A year ago, gas prices were about one-third of a cent lower. The national average price for mid-grade was $1.53 and $1.61 for premium.

"Supplies are a bit tighter but there is no shortage," Lundberg said, adding this is the first noticeable price movement in several weeks of relatively flat prices. Gasoline supplies have been affected by some plant shutdowns.

Among refiners, Phillips closed its 180,000-barrel-per-day Trainer, Pa., refinery after a fire Tuesday and BP took down a small cracking unit at its 450,000-barrel-per-day Texas City, Texas, refinery for general maintenance.