March 11 The price of a gallon of gasoline
in the United States rose 12.31 cents over the past two weeks
reflecting higher crude oil prices, according to the nationwide
Lundberg Survey, which also showed that increases were slowing.
The national average for a gallon of regular gasoline rose
to $3.8148 on March 9, according to the survey of gasoline
retailers in the continental United States.
Drivers in Denver saw the lowest pump price at $3.36 per
gallon, nearly a $1 lower than the Los Angeles price of $4.35,
the nation's highest.
Average prices had jumped 18.6 cents in the previous survey,
and the newest increase represented the impact of the jump in
crude oil prices in February, survey editor Trilby Lundberg
"There are reasons to believe the rate of increase may slow
again," she said in an interview. "If crude does not jump again
immediately, then the gasoline market will be able to peak
U.S. crude oil futures reached a recent high near $110 a
barrel on March 1, and have since slipped about $3 to close on
Friday at $107.40.
Those crude prices are up more than 8 percent so far this
year, largely due to market fears that efforts to curb Iran's
nuclear program could spark a military confrontation in the
Absent an increase in those tensions, gasoline prices in the
United States are likely to turn lower in the coming weeks
because of relatively soft consumer demand and as West Coast
refineries return to operation from seasonal maintenance.
(Reporting By Matt Daily; Editing by Maureen Bavdek)