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Survey: Gas prices up nearly a nickel, large increase not expected

By the CNN Wire Staff
STORY HIGHLIGHTS
  • Gas prices up nearly 5 cents
  • 10 cents higher than last year at this time
  • Further dramatic gains aren't likely

(CNN) -- The price for a gallon of self-serve regular gasoline is up nearly a nickel in the past two weeks, but gas prices aren't expected to continue a dramatic rise, according to a survey published Sunday.

The average gas price nationwide was $2.76, a gain of 4.9 cents per gallon, the Lundberg Survey found in an analysis conducted June 25.

"It does not represent the start of something big," survey publisher Trilby Lundberg told CNN. Refiners are paying more for gasoline and may be able to pass "a few more pennies" of that increase through to the wholesale gasoline market, she said. However, the market right now is "difficult," with flat demand, she said.

The price is 10 cents higher than last year's price at this time, $2.66 per gallon, she said, a "small penalty" on under- and unemployed consumers, although it is "somewhat positive" the increase is small.

The survey tallies prices at 2,500 gas stations nationwide.

Among the cities surveyed, the lowest gas prices were found in Charleston, South Carolina, at $2.49 per gallon. The highest were found in San Francisco, California, with $3.14.

Average per-gallon prices in other cities:

-- Tucson, Arizona - $2.57

-- Newark, New Jersey - $2.60

-- Denver, Colorado - $2.65

-- Atlanta, Georgia - $2.69

-- El Paso, Texas - $2.72

-- Indianapolis, Indiana - $2.83

-- Billings, Montana - $2.80

-- Boston, Massachusetts - $2.75

-- Miami, Florida - $2.71

 
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