The average price of regular gasoline at U.S. filling stations rose to $2.6442 a gallon, reflecting a 4 percent increase in crude oil prices since July 24, according to Trilby Lundberg, an independent gasoline analyst. Bloomberg reported Gasoline rose 15.3 cents in the two weeks ended Aug. 7, according to his survey of 5,000 filling stations nationwide. Lundberg said fuel prices may hold at this level, as it’s unlikely demand will push prices higher. “To look for a resurgence in gasoline demand is unrealistic, I think, at least this year,” Lundberg said. “Since the gasoline market is really expected to remain weak, this may be it for awhile, except for perhaps a bit more pass-through of the crude oil prices we’ve already seen.”
Gas Rise to $2.64, Expected to Hold Steady
Analyst Lundberg says fuel prices may hold at this level, as it’s unlikely demand will push prices higher.
August 10, 2009