U.S. gasoline prices rise to $3.10 a gallon: survey

Business Materials 25 February 2008 03:02 (UTC +04:00)

( Reuter )- The average price for a gallon of gasoline in the United States rose in the last two weeks, tracking a rise in crude oil prices, according to a nationwide survey.

The national average for self-serve, regular, unleaded gas was $3.1011 per gallon on February 22, up 15.88 cents from two weeks earlier, and up 75.24 cents from a year ago, according to the Lundberg survey of about 7,000 gas stations.

"It is entirely from rising crude oil prices," survey editor Trilby Lundberg said on Sunday.

U.S. oil hit a record last week amid expectations the Organization of the Petroleum Exporting Countries (OPEC) could maintain or reduce output at its March meeting, rather than increase to meet calls from consumers.

Lundberg, however, played down the expected impact of any OPEC decision on gasoline prices.

"If crude recedes a little it will be from the normal, world oil demand downturn that happens during the warmer months. But even that would not prevent further rises at the pump in the U.S. because very soon gasoline will take on its own price strengths from rising seasonal demand," Lundberg said.

At $3.37, Honolulu had the highest average gasoline price in the nation, while Phoenix had the least expensive of the stations surveyed, Lundberg said.