by Bill McBride on 2/24/2013 07:36:00 PM
Sunday, February 24, 2013
Over the past two weeks, prices at the pump have jumped 20 cents, adding to a total rise of nearly 54 cents over the past nine weeks, according to the Lundberg Survey.In Los Angeles prices are around $4.30 per gallon.
... And now, prices may even start to drop, says publisher Trilby Lundberg.
"I don't mean that gasoline prices cannot go up further from here," she said Sunday. "But the chief causes of the rise are out of the picture."
Crude oil prices are now going down, and wholesale prices -- which marketers and retailers pay -- are "starting to tumble," she said.
Below is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are up over 50 cents per gallon from the low last December, and up 20 cents over the last two weeks. But it does appear the price increases have slowed.
If you click on "show crude oil prices", the graph displays oil prices for WTI, not Brent; gasoline prices in most of the U.S. are impacted more by Brent prices.
|Orange County Historical Gas Price Charts Provided by GasBuddy.com|
Posted by Bill McBride on 2/24/2013 07:36:00 PM