Gas prices rise to $2.33 per gallon: survey

NEW YORK (Reuters) – The average retail price of a gallon
of gasoline in the United States rose again over the past two
weeks, continuing recent hikes that do not appear to be easing
as crude oil prices increase and other market changes kick in,
an industry analyst said on Sunday.

The national average for self-serve, regular unleaded gas
was $2.3319 per gallon on January 20, up 3.11 cents per gallon
since the last nationwide Lundberg survey of gas stations on
January 6.

Prices fell nearly 88 cents per gallon between September 9,
when they peaked at a record of $3.0117 per gallon, and
December 2 when they bottomed out, survey editor Trilby
Lundberg said, though they have risen steadily since.

A year ago, the January 21, 2005, survey had the price for
a gallon of self-serve, regular unleaded at $1.8747.

“Prices are much more likely to continue rising than to
show no change or decline,” Lundberg said. “Retail gasoline
only having climbed 3 cents will take upward pressure from
crude if crude does not fall.”

Prices were already expected to rise over the next few
months, Lundberg said, driven by required fuel reformulations,
provisions in last year’s energy bills taking effect, and the
renewed rise of crude oil.

U.S. crude prices gained 2.2 percent to $68.35 a barrel on
Friday in New York after al Qaeda threats added to worries
about supplies from crude exporters in Iran and Nigeria. Oil
prices have gained 23.4 percent since their five-month low of
$55.40 hit in mid-November.

At $2.80 a gallon, Honolulu had the highest average price
for self-serve, regular unleaded gas, while the lowest price
was $2.10 a gallon in Portland, Oregon.