Gas prices show rise but may fall
The average price for a gallon of gasoline in the United States rose 7 cents in the past two weeks to the highest levels since October 2008, but should retreat following last week's sharp fall in crude oil prices, according to an industry analyst.
The national average for self-serve, regular unleaded gas rose to $2.92 per gallon on
May 7, up from $2.85 two weeks earlier, according to the nationwide Lundberg survey of about 2,500 gas stations.
On Friday, crude hit its lowest level since Feb. 16, at $74.51 per barrel after going over $87 earlier in the week as worries grew that the euro zone's debt crisis might derail the global economic recovery.
"The price of gasoline will fall possibly quite steeply -- at least some of those price cuts will be passed through by retailers to motorists" survey editor Trilby Lundberg said. "Crude will continue to gyrate in the coming days."
What gas prices are you seeing around the region? Share a comment below.
Posted by: yourmomscalling | May 9, 2010 6:04 PM | Report abuse
Posted by: Gus4 | May 9, 2010 7:23 PM | Report abuse
Posted by: banzaigtv | May 9, 2010 10:21 PM | Report abuse
The comments to this entry are closed.