U.S. Gas Prices Up 7 Cents per Gallon Over Last Three Weeks

04/15/96

United Press International reported that average gas prices at pumps across the nation have risen 7 cents per gallon over the last 3 weeks. The price hikes are part of a trend of rising gas prices that began last fall in November with only a short break in February.

A survey of 10,000 gas stations across the country found that the composite price of gas in the U.S. was $1.31 per gallon, seven cents per gallon above the composite price revealed by a similar survey on March 22. A year ago the nation's composite gas price was $1.19 per gallon--12 cents cheaper than the current rate.

The composite price for gasoline combines prices of all kinds of gas at both self and full service pumps, and includes adjustments for all local and state taxes.

The main factors that explain the high prices are higher crude oil prices (up several dollars a barrel), uncertainty about the world oil market, seasonal changes in driving patterns, and the arrival on the California market of a gasoline that burns cleaner and satisfies the clean-air mandate. California drivers consume 11 percent of gas used in the country. California gas stations must switch over to the new gas by June 1.

Average prices for different kinds of gas range from $1.25 per gallon for self-serve regular unleaded, to $1.35 per gallon for self-serve midgrade unleaded, and $1.43 per gallon for premium self-serve. Full service prices ring in at averages of $1.55 for regular unleaded, $1.64 for the mid-grade, and $1.71 for premium unleaded.

Paul Dever -- The Auto Channel