U.S. Gasoline Avg Price Rise of $2.4615/Gal: Lundberg Survey 2017-04-23 18:25:19.22 GMT
By Amy Stillman
(Bloomberg) -- (Updates with additional comment from Trilby Lundberg in third bullet point.)
* Avg price for regular gasoline at U.S. pumps rises 2.88c to $2.4615/gal, according to Lundberg Survey Inc.
* Current price is +28c y/y
* “Crude oil prices fell substantially during this period benefiting refiners and retailers,” Trilby Lundberg, president of Lundberg Survey, says by phone. “Retailers kept the wholesale price cuts they got from refiners and also hiked street prices. Both downstream industry segments got gasoline margin improvements.”
* Unless crude oil prices rebound strongly, price increases are likely to be even smaller or could stop entirely, she said.
* NOTE: Survey by Camarillo, Calif.-based co. conducted April 21, based on information collected at ~2,500 filling stations
* Highest avg U.S. retail price: $3.04/gal in San Francisco
* Lowest avg U.S. retail price: $2.09/gal in Jackson, Miss.
* Long Island, N.Y.: $2.48/gal
* Los Angeles: $2.99/gal
* Houston: $2.27/gal