Hike In Price Of Crude Oil Could Push Gas Prices Up
SAN FRANCISCO (CBS/AP) -- The average price of gasoline has dropped half a cent over the past two weeks, to $2.34 a gallon.
Industry analyst Trilby Lundberg reports that prices have fallen 52 cents in the past 17 weeks, but the latest cut is the smallest so far.
She says a moderate hike in the cost of crude oil has nudged up wholesale prices, so retailers have stopped cutting their street prices.
Lundberg says consumers could start to see higher gas prices if crude prices continue to jump.
In the Lower 48 states, the highest average price of regular gasoline was $2.96 per gallon in Los Angeles. The lowest was $1.92 in Charleston, South Carolina.
In San Francisco, gasoline was $3.87 per gallon at the 76 Station on Ocean and Harold Avenues.
