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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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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. 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.