Gasoline Prices Flat

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Gasoline Prices Flat

07/15/2002
CAMARILLO, Calif. -- Gas prices showed little change over the past three weeks, but an increase in the cost of crude oil could signal increases ahead, according to analyst Trilby Lundberg.

The average price nationwide, including all gasoline grades and taxes, was about $1.44 a gallon, according to the Lundberg survey of 8,000 convenience stores. That price was down one-tenth of one cent per gallon since June 21.

Current prices remain about 6 cents below gas prices a year ago at this time.

The national weighted average price of gasoline was about $1.41 per gallon for regular, $1.51 for mid-grade and $1.60 for premium.

"The spring and summer of 2002 might be noted for the relative lack of price volatility," Lundberg said.

While the price at the pump has been marked by "remarkable stability," Lundberg said, the price of crude oil has edged up about 4 cents a gallon during the past three weeks.

Labor unrest in Venezuela has sparked concerns about possible production problems and further price hikes, she said.