Gas Prices Rise Again
May. 11, 1998
LOS ANGELES (AP) _ Gasoline prices rose 2.7 cents in the last two weeks, marking a 6.5-cent jump since prices hit a 78-year low in March. But filling up still takes less out of the wallet than it last year.
``Although 6 1/2 cents in less than two months is really noticeable, it's also just a drop in the bucket compared to the savings we've had,'' said Trilby Lundberg, publisher of the Lundberg Survey. ``It's still about 13 cents under what it was a year ago,'' she said Sunday.
The Lundberg price survey of all grades, including full- and self-service, for the two-week period ending Friday at 10,000 stations showed an average pump price of $1.14.
The low point came March 20, when the weighted average reached $1.07. It was the lowest inflation-adjusted price since 1920.
``Baring an extreme world event, Americans will probably be paying less than we did last year all through 1998,'' Lundberg said.
At self-service pumps, regular gasoline was $1.09, mid-grade was $1.19 and premium was $1.27 during the latest survey.
At full-service pumps, regular gasoline was $1.49, mid-grade was $1.59 and premium was $1.66.