NEW YORK - Average U.S. retail gasoline prices edged lower over the past two weeks, but are poised to resume their upward march ahead of rising gasoline demand and stricter environmental regulations, the editor of the Lundberg survey said on Sunday.
The average national price for self-serve regular unleaded gasoline was $1.9523 a gallon on March 20, down 1.02 cents per gallon in the past two weeks, according to the survey of gas stations.
The average price, though slightly lower in some markets recently, has risen fairly steadily since mid-December, when it hit $1.66 a gallon. But the average price is still $1.31 below this time a year ago and well below an all-time high of $4.1124 a gallon set last July 11.
Survey editor Trilby Lundberg said in an interview that despite the small decrease in prices over the last two weeks, it marks only "a brief lull" in the recent price rally and "the price increases we've seen for the prior three months will probably resume immediately."
Lundberg cited stronger crude oil prices, rising gasoline demand, and new emissions regulations that take effect in some areas next month. She said wholesale gasoline prices had already begun rising again.
"There is already substantial price pressure within the wholesale distribution system," she said.
The nationwide Lundberg survey polls about 5,000 gas stations in U.S. metropolitan areas.
The average national price for self-serve regular unleaded gasoline was $1.9523 a gallon on March 20, down 1.02 cents per gallon in the past two weeks, according to the survey of gas stations.
The average price, though slightly lower in some markets recently, has risen fairly steadily since mid-December, when it hit $1.66 a gallon. But the average price is still $1.31 below this time a year ago and well below an all-time high of $4.1124 a gallon set last July 11.
Survey editor Trilby Lundberg said in an interview that despite the small decrease in prices over the last two weeks, it marks only "a brief lull" in the recent price rally and "the price increases we've seen for the prior three months will probably resume immediately."
Lundberg cited stronger crude oil prices, rising gasoline demand, and new emissions regulations that take effect in some areas next month. She said wholesale gasoline prices had already begun rising again.
"There is already substantial price pressure within the wholesale distribution system," she said.
The nationwide Lundberg survey polls about 5,000 gas stations in U.S. metropolitan areas.
