Video: More pump pressure

updated 3/1/2004 12:12:02 PM ET 2004-03-01T17:12:02

Prices for all grades of gasoline rose 6.9 cents in the past two weeks to a national average of $1.75 a gallon, according to a study released Sunday. But even with the boost, the cost was a penny below what it was at this time a year ago.

Since late December, the price of gas has gone up nearly 25 cents a gallon. The Lundberg survey of 8,000 stations nationwide was conducted Feb. 27.

Analyst Trilby Lundberg said there were several reasons for the latest spike, including a rise in crude oil prices and higher refinery costs.

The average price of gasoline in March 2003 was $1.76, Lundberg said.

Gas prices jumped significantly in California, where many cities saw increases of 20 cents or more, Lundberg said. In San Diego, which had the highest gas prices in the nation, a gallon of self-serve regular cost $2.19, 27 cents higher than just two weeks ago, the report said.

California has strict environmental regulations and places sales tax on gas pumps, which amounts to an extra 3.5 cents a gallon, Lundberg said.

"We have the most clean and costly gas in the world," she said.

The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.72 for regular, $1.82 for midgrade, and $1.91 for premium.

Copyright 2004 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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