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Survey: Gas prices up 17 cents in two weeks

  • Story Highlights
  • Average price of a gallon of self-serve regular gas is $2.66, Lundberg Survey finds
  • Highest is in San Francisco, California, at $2.99; lowest in Tucson, Arizona, at $2.41
  • Price is $1.34 lower than the average one year ago, when prices neared $4 mark
  • Increase corresponds with rising price of crude oil in response to weakening dollar
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(CNN) -- The average price per gallon of self-serve regular gasoline is $2.66, up 16.68 cents from two weeks ago, the Lundberg Survey found.

There is no reason to believe prices at the pump will reach the $4-plus levels of last summer, surveyor says.

There is no reason to believe prices at the pump will reach the $4-plus levels of last summer, surveyor says.

The price, an average of thousands of gas stations nationwide, is $1.34 lower than a year ago. Last year in June, retail gas prices were nearing $4, and stayed at that level or above until late July.

The most recent increase is not a reflection of increased demand, according to survey publisher Trilby Lundberg.

"It's a direct result of continued increases in the price of crude, with crude oil itself responding to a flight from the weaker dollar on the expectation of rising inflation from federal monetary policy," Lundberg said.

"Demand is not increasing. It is shrinking."

Lundberg said there is no reason to expect gas prices will reach the $4-plus levels of last summer but "it might certainly feel that high to many consumers, especially those who are unemployed."

The city with the lowest average price in the survey was Tucson, Arizona, at $2.41, for a gallon of self-serve regular.

The highest average was in San Francisco, California, at $2.99.

Here are the average prices in some other cities:

Houston, Texas: $2.45

St. Louis, Missouri: $2.45

Denver, Colorado: $2.49

Atlanta, Georgia: $2.52

Boston, Massachusetts: $2.63

Seattle, Washington: $2.82

Chicago, Illinois: $2.92

All About Gas PricesLundberg Survey Inc.

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