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Gas prices edge up to $2.80 a gallon

Prices up a nickel in past two weeks according to national survey and are up 60 cents from the same time a year ago; more increases expected.


ATLANTA (CNN) -- Gas prices rose a nickel during the past two weeks, to an average of $2.80 per gallon of self-serve regular, a national survey said Sunday.

That's 60 cents more than prices at this time last year, but 38 cents below the all-time peak of $3.18 set on May 18, said Trilby Lundberg, publisher of the "Lundberg Survey."

The increases reported in the survey, which was carried out Oct. 19 and Oct. 5, will likely continue, she predicted.

"This nickel is a drop in the bucket," she said.

Over the same two-week period, the price of crude oil went up the equivalent of 18 cents per gallon.

That hike is not fully reflected at the pump because refiners, marketers and retailers have not passed it along, she said.

"The margin squeeze alone for refiners, marketers and retailers is enough to tell us that gasoline prices will continue to rise," she said.

The highest prices were in San Francisco, where drivers paid $3.17 per gallon of self-serve regular; and lowest in Newark, N.J., where they paid $2.56.

Here are some other cities' prices:

Tulsa, Okla.: $2.63

Boston: $2.70

Atlanta: $2.72

Philadelphia, Pa.: $2.74

El Paso, Texas: $2.78

Salt Lake City: $2.82 Top of page

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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: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. 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 2014 and/or its affiliates.