Gas prices rise 2 cents

Lundberg survey says averages up for six weeks straight, but should stabilize due to weak winter demand; little impact seen from OPEC production cuts.


CAMARILLO, Calif. (CNN) -- Gas prices at U.S. pumps rose an average of more than 2 cents per gallon during the past two weeks, according to a national survey released Sunday

The Dec. 15 Lundberg Survey of about 5,000 gas stations nationwide showed the average price of a gallon of self-serve regular gas was $2.29.

Overall, gas prices have risen 11 cents since Nov. 3, publisher Trilby Lundberg, publisher told CNN. "Prior to that, there had been a crash of 84 cents between early August and early November," she said.

Lundberg predicted that gas prices would not continue to rise much, if at all. "Already, in about a quarter of cities, prices have edged down in the past two weeks," she said.

She predicted that prices would remain relatively stable in coming weeks, despite promises by OPEC to cut production in order to drive up prices. OPEC recently announced it will cut back another 500,000 barrels per day effective Feb. 1.

But the cartel has not adhered to its pledge to cut 1.2 million barrels of production per day effective Nov. 1, Lundberg noted.

The price in the poll released Sunday is about 8 cents above what it was a year ago, she said.

The most expensive gas in the country continued to be in Honolulu, where drivers paid an average $2.74 a gallon. Drivers in Tulsa enjoy the cheapest gas prices, at about $2.10 a gallon.

Prices in other cities:

Houston: $2.15

Detroit: $2.19

Salt Lake City: $2.21

Wilmington, Del. $2.28

Miami: $2.31

Philadelphia: $2.35

San Diego: $2.59

Seattle $2.61 Top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.