Monday, September 12, 2011

Gas Prices Jump But No Steady Climb Forecast

(CNN) -- U.S. gas prices have edged up 6 cents over the past two weeks, but don't fret that a steady climb is on the horizon, the publisher of a new survey said Sunday.The average price of a gallon of regular is $3.67, up nearly 6 cents from two weeks earlier, the Lundberg Survey found."Most of the cause is slightly higher crude oil prices during the same two-week period," said publisher Trilby Lundberg.

"A minor contributor was higher ethanol prices.""I don't think this is an up trend in the making," she said. Given that "there is no visible threat to supply," and crude oil price behavior is expected to be "mild in the near future, gasoline will be able to behave according to its nature," she said. "And its nature right now is to drop because our demand is shrinking."

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