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U.S. gas prices remain flat in latest survey

By the CNN Wire Staff
STORY HIGHLIGHTS
  • The latest survey puts the U.S. average gas price at $2.73 per gallon
  • Prices remain flat over the past two weeks
  • A fuel glut and a weak economy keep prices down

(CNN) -- U.S. gasoline prices stayed flat over the past two weeks, according to a new nationwide survey released Sunday.

The U.S. average price of self-serve regular rose by less than one cent to $2.73 per gallon in the latest Lundberg Survey of about 2,500 gas stations, survey publisher Trilby Lundberg said. That's the same price as on the last survey, on July 9, and almost 25 cents higher than a year ago.

Crude oil prices rose over the two-week period by nearly $3, but refineries and retailers "took it on the chin" and did not pass all of the increase onto consumers, Lundberg said. "The crude oil price increase did not make it to the streets," Lundberg added. The reasons for that, she said, are a lag time in the new prices being reflected at the pump, and price resistance stemming from an oversupply of gasoline and weak demand.

Of the cities surveyed on Friday, the highest prices were found in San Francisco, California, at $3.17 per gallon. The lowest were found in Charleston, South Carolina, at $2.47.

Average per-gallon prices in other cities:

Atlanta, Georgia: $2.62

Seattle, Washington: $3.00

Salt Lake City, Utah: $2.82

Minneapolis, Minnesota: $2.73

Boston, Massachusetts: $2.73

Albuquerque, New Mexico: $2.70

Tucson, Arizona: $2.55

Miami, Florida: $2.69