Gas prices up even as crude falls
Lundberg Survey reports that pump prices climb almost 11 cents nationwide; cheapest in New Jersey.

ATLANTA (CNN) - Prices jumped nearly 11 cents over the past two weeks to $2.35 for a gallon of regular-grade gasoline, even though the price of crude dropped, a national survey said Sunday.

The hike obliterates the nine-cent drop that had begun Jan. 20, said Trilby Lundberg, publisher of the Lundberg Survey.

"Those five weeks of declines were due largely to our being at the bottom of our gasoline-demand curve," she said.

The price rise came even as the cost of a barrel of crude fell from $62.91 on Feb. 24 to $59.96 last Friday -- a seven-cent-per-gallon drop.

Lundberg said an expected increased demand for gasoline in the spring and new government-required gasoline formulation requirements conspired to drive up prices at the pump.

Prices are not likely to fall any time soon, she said. "With our demand building and those new recipe requirements coming into effect, gas prices will most likely surge much higher," she predicted.

"Some of those regulations are seasonal in nature; they become more severe and more expensive as the weather gets warmer."

Prices in Newark, N.J. were the lowest, at $2.15 for a gallon of self-serve regular; they were highest in Honolulu, at $2.63 per gallon, she said.

The survey was carried out March 10. The previous survey was carried out Feb. 24.

Other prices from across the country:

Charleston, S.C.: $2.19

Salt Lake City: $2.25

Dallas: $2.28

Atlanta: $2.29

Philadelphia: $2.32

Las Vegas: $2.38

Cleveland: $2.39

Los Angeles: $2.55

____________________

Missed out on the rest of the day's headlines? Click here. Top of page

YOUR E-MAIL ALERTS
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.

Or, visit Popular Alerts for suggestions.
Manage alerts | What is this?

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.