U.S. gasoline rose almost 12 cents over two weeks- survey
Joe Raedle/Getty Images
By Jennifer Saba

NEW YORK -- The average price for a gallon of gasoline in the United States rose nearly 12 cents during the past two weeks as violent crises in three areas of the world heightened concerns in the oil market.

A gallon of regular grade gasoline increased 11.67 cents to an average retail price of $3.41, according to the Lundberg survey released Sunday. In the previous two-week period, the price had declined by less than two cents a gallon.

Developments in three global hot spots in Ukraine, Venezuela and South Sudan caused U.S. wholesale gasoline prices to "zoom up," said Trilby Lundberg, publisher of the survey.

She said she expects the rise in wholesale prices to add yet a few more pennies to the price at the pump.

Even with the latest increase, the current price is lower than a year ago, when the average price for a gallon of gasoline was $3.79.

The lowest price for a gallon of regular gas in the survey was found in Billings, Mont., where the average price was $3.08. The highest price, $3.82 a gallon, was found in San Diego.


Crude Oil Prices on the Rise and Holding Above $100 a Barrel

Increase your money and finance knowledge from home

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Investing in Startups

The lucrative and risky world of startups.

View Course »

Add a Comment

*0 / 3000 Character Maximum

70 Comments

Filter by:
paul.todoro

Yet another example of how fickle the prices of such goods are in today's world. Oil drilled in the Middle East or Russia needs to travel quite a bit to get to us, and chaos such as this can make that process difficult.... To say the least. Now if Putin decides to move in, things will get even more complicated. A military occupation typically has a certain way of slowing the commerce through a region, especial concerning oil, a resource that Russia would certainly like to obtain. It's this uncertainty of the future that creates these price spikes. If the supply becomes threaded, the industries become defensive, and our wallets feel it when they do.

March 02 2014 at 11:50 PM Report abuse rate up rate down Reply
Jack Travis Raymond

Jack Raymond

I believe the rising prices of oil in Russia is reflective of it's inability to attain it's own oil through regular means and from it's own land. If Russia sent in it's military to bring back the pro-Russian government in Ukraine, President Vladimir Putin may be able to lower Russia's own oil prices at the expense of Ukraine's economy. For what Americans pay at the pump, the rising prices are expected only to continue increasing if the economy stays this way, no matter what nation the oil belongs to. This represents the uncontrollable economic situation the entiriety of the western hemisphere is in right now.
This is my opinion though.

March 02 2014 at 3:48 AM Report abuse rate up rate down Reply
Kailyn Miller

I believe this is just a reason to raise prices and collect more money from the people living in the United States. I think everyone should pay the same, no matter where they live. Also, if we are going to pay so much for gas, then they should at least reduce the taxes added onto the gas prices that we also pay.

February 27 2014 at 12:05 PM Report abuse rate up rate down Reply
nthereoff

remember as a kids. my father would drive a mile to get gas 1 cent cheaper. also you got a pair of drinking glass with a fill up. today when you are paying near 4 bucks per g. 5 or 10 cent more doesn't seem that much. .it's all bs you and i know it.

February 25 2014 at 9:27 AM Report abuse rate up rate down Reply
nthereoff

No problem. Call our good friends in Venezuela and get free gasoline. Just ask for Joe

February 25 2014 at 9:05 AM Report abuse rate up rate down Reply
.kowalski440mag

blah, blah, blah, blah, blah....................just another reason(or 3) to raise the price by commodity clowns. US oil production is predicted to hit 40 yr highs in a couple yrs thus making us the leading producer of oil. This fact combined with falling demand here as well as abroad sheds ever-brightening light on the folly and foolishness of commodity traders. Oi priciong, as diamond pricing, is a scam........clear and simple.

February 24 2014 at 3:14 PM Report abuse rate up rate down Reply
MARTHA & PERRY

speculators at work again. what happened to the good old days of tar and feathers.

February 24 2014 at 10:17 AM Report abuse +1 rate up rate down Reply
raydelv

What happened that the within the next two years, the U.S will be producing more oil than the Middle East. All the countries that produce their own oil have fuel prices that are dirt cheap except in the U.S. It will never happen, but voters need to petition their law makers at the Federal, State and local levels to reduce or do away with the taxes added to the price of fuel. This is another reason why fuel prices are so high.

February 24 2014 at 10:01 AM Report abuse +1 rate up rate down Reply
richymack

How about that tele prompter reader in the oval office sign for the construction for the ND pipe line. He is destroying the independant fabric of America with all his Global warming, Clean Air, let the crops burn to save the minnow in Ca and close the coal mines in WV. This clown in the oval office is letting the left wing activist drag this countru down. His decisions have led to out of site home heating oil prices, sky high electric bills, rising gas at the pump, and propane gas. Right now the president of Venezula is helping many home owners here in the USA by giving 100 gallons of free home heating oil to needy Americans and our president "Let them freeze" Obama is the biggest problem and he has got to go along with all his left wing cronies.

February 24 2014 at 9:56 AM Report abuse -2 rate up rate down Reply
usapaydirt

As the US Government continues to force us into Globalization and free trade, it continues to unsettle everything and create artificial price spikes. If Total Globalization must continue , it must be accompanied by Global Income Equality and equal pay for equal work, no matter what Country you live in....

February 24 2014 at 9:41 AM Report abuse +1 rate up rate down Reply