Gas Prices Up a Penny

The average U.S. price of a gallon of gasoline has gone up one penny over the past two weeks. It is the first increase after eight straight weeks of decline. Survey publisher Trilby Lundberg say there are a variety of factors contributing to the slight increase, including rising demand. “May we also use more gasoline than we did in April that is a seasonal change as usual.” Lundberg says she is not expecting a major increase at the pump. “Even though there are ways for gasoline price to reverse and not increase from here I think they will but just not huge amounts tiny or moderate amounts only because there is plenty of gasoline around.” Lundberg tells more about the factors contributing to the increase in gasoline prices. “The crude oil price increase is working there way to the street, we also have narrow where profit margins on gasoline for refiners and retailers, we have higher ethanol prices, ethanol must be blended in, and May is the month when vapor pressure has to be cut to prevent smog, that adds to cost.” The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.54. Midgrade costs an average of $3.73 a gallon, and premium is $3.87.