Gas prices climb nearly 7 cents a gallon

By the CNN Wire Staff


(CNN) -- Gas prices have jumped nearly seven cents a gallon over the past two weeks, reaching a level more than 75 cents higher than they were a year ago, according to a survey published Sunday.

The average price for a gallon of self-serve regular is $3.57, the Lundberg Survey found. That's 6.65 cents higher than the price the same survey found two weeks earlier.

The latest spike suggests that the dramatic price increases are slowing down, said publisher Trilby Lundberg. Between February 18 and March 4, the survey had found an increase of about 33 cents. That hike corresponded to an increase in crude oil prices amid unrest in more than a dozen countries in the Middle East and north Africa, six of which are OPEC members, Lundberg said.

The new jump in prices at the pump comes despite a drop in crude oil prices over the past two weeks. Lundberg described that as "follow-through" from the previous spike in oil prices.

The survey was taken Friday, before several countries began military action against Libya. It is too soon to know what impact events in Libya will have on gasoline prices, Lundberg said Sunday.

The Lundberg Survey tabulates prices at thousands of gas stations nationwide. Of the cities included in the latest survey, the lowest average price was in Billings, Montana, at $3.27 a gallon. The highest was in San Francisco, California, at $3.97. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 15,291.84 -2.66 -0.02%
Nasdaq 3,453.05 -6.37 -0.18%
S&P 500 1,647.48 -3.03 -0.18%
Treasuries 2.01 -0.02 -0.79%
Data as of 1:20pm ET
Company Price Change % Change
Bank of America Corp... 13.17 -0.04 -0.30%
Pfizer Inc 28.98 -0.13 -0.45%
General Electric Co 23.58 -0.08 -0.34%
Intel Corp 23.80 -0.25 -1.04%
Microsoft Corp 34.18 0.02 0.07%
Data as of 1:05pm ET
Sponsors

Sections

The fuss over Apple's complex strategies to avoid taxes put the corporate tax code on display in all its convoluted glory this week. More

The 79 tornadoes that hit over three days in 10 states caused billions in losses, with most of damage concentrated in Moore, Oklahoma. More

Vermont, a patent-rich state, is cracking down on so-called "patent trolling," a growing problem for entrepreneurs nationwide. More

New residents are flocking to these 10 cities, which added the largest number of residents between July 2011 and July 2012, according to Census Bureau. More

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: © 2013 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 © 2013 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. 2013. All rights reserved. Most stock quote data provided by BATS.