Gas prices jump, but good news expected
updated 5:37 AM EDT, Mon August 27, 2012
At this time a year ago, the average price for a gallon of gas was $3.61 -- 15 cents lower than it is now.
- The average nationwide price is up 7 cents in 2 weeks
- Higher crude oil and ethanol prices are blamed
- Demand likely to fall in September as summer travel season ends
(CNN) -- Gas prices have jumped again nationwide, according to a survey published Sunday.
The average price for a gallon of regular is now $3.76 -- up nearly seven cents from two weeks ago, the Lundberg Survey found.
The increase is substantially smaller than in the previous two weeks, when the price jumped nearly 19 cents a gallon.
"Higher crude oil and higher ethanol prices have worked their way into the pump," said publisher Trilby Lundberg.
What's driving gas prices higher?
But gasoline use generally tapers off with cooler weather, as fewer people take to the roads for trips. So in September, demand will probably fall.
"So if there is no oil or gasoline supply cut, then there's a very good chance that we've seen the end of the pump price hikes," Lundberg said.
It's too soon to tell what impact Tropical Storm Isaac may have, she said.
A deadly explosion at an oil refinery in Venezuela could affect prices as well, Lundberg said. But so far this and other recent events have not led to any shortage of oil, she said.
Prices peaked this year in early April, at a national average of $3.97 -- 21 cents higher than in the latest survey.
At this time a year ago, the average was $3.61 -- 15 cents lower than it is now.
The Lundberg Survey tallies prices at thousands of gas stations nationwide.
The city with the lowest average price in the latest survey was El Paso, Texas, at $3.32. The high was in Chicago, at $4.22.
Here are average prices in some other cities:
• Boston - $3.78
• Philadelphia - $3.78
• Norfolk, Virginia - $3.60
• Atlanta - $3.78
• Denver - $3.44
• Phoenix - $3.50
• Billings, Montana - $3.57
• Portland, Oregon - $3.96
CNN's Josh Levs contributed to this report.
Part of complete coverage on
updated 10:26 AM EST, Wed February 6, 2013
Advocates say the exam includes unnecessarily invasive and irrelevant procedures -- like a so-called "two finger" test.
updated 7:09 PM EST, Tue February 5, 2013
Supplies of food, clothing and fuel are running short in Damascus and people are going hungry as the civil war drags on.
updated 1:01 PM EST, Wed February 6, 2013
Supporters of Richard III want a reconstruction of his head to bring a human aspect to a leader portrayed as a murderous villain.
updated 10:48 AM EST, Tue February 5, 2013
Robert Fowler spent 130 days held hostage by the same al Qaeda group that was behind the Algeria massacre. He shares his experience.
updated 12:07 AM EST, Wed February 6, 2013
As "We are the World" plays, a video shows what looks like a nuclear attack on the U.S. Jim Clancy reports on a bizarre video from North Korea.
The relationship is, once again, cold enough to make Obama's much-trumpeted "reset" in Russian-U.S. relations seem thoroughly off the rails.
Ten years on, what do you think the Iraq war has changed in you, and in your country? Send us your thoughts and experiences.
updated 7:15 AM EST, Tue February 5, 2013
Musician Daniela Mercury has sold more than 12 million albums worldwide over a career span of nearly 30 years.
Photojournalist Alison Wright travelled the world to capture its many faces in her latest book, "Face to Face: Portraits of the Human Spirit."
updated 7:06 PM EST, Tue February 5, 2013
Europol claims 380 soccer matches, including top level ones, were fixed - as the scandal widens, CNN's Dan Rivers looks at how it's done.
updated 7:37 AM EST, Wed February 6, 2013
That galaxy far, far away is apparently bigger than first thought. The "Star Wars" franchise will get two spinoff movies, Disney announced.
updated 2:18 AM EST, Fri February 8, 2013
It's an essential part of any trip, an activity we all take part in. Yet almost none of us are any good at it. Souvenir buying is too often an obligatory slog.