Gas Prices Rise on Mideast Fears

Retail gasoline prices jumped about 2% during the last two weeks, the first sizable spike in six months, an industry survey indicated.

The average price nationwide, including all grades and taxes, was about $1.486 a gallon, up 2.9 cents from the previous survey Sept. 27, according to the Lundberg Survey of 8,000 stations nationwide released Sunday.

Continued strong crude oil prices, plus higher demand at the pump, contributed to the rise in prices, Camarillo-based analyst Trilby Lundberg said.

“Fears about the Middle East crisis have kept crude oil prices high,” she said, adding that travelers’ continued reluctance to fly also was a factor.

Until the latest survey, the price of gasoline had remained steady since April 5, Lundberg said.

The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.45 a gallon for regular, $1.55 for mid-grade and $1.64 for premium.