Gasoline Gains 7¢ in Two Weeks to $3.76 a Gallon, Lundberg Survey Reports
Oil Price Fluctuates as Isaac Enters Gulf
Gasoline rose 7 cents in the past two weeks to $3.76 a gallon, and oil prices swung lower as Tropical Storm Isaac entered the Gulf of Mexico.
Midgrade’s average is $3.91 per gallon, and premium is at $4.04, analyst Trilby Lundberg reported in the latest Lundberg Survey of filling stations released Sunday.
El Paso, Texas, had the lowest price among cities surveyed, at $3.32 per gallon, while Chicago was the highest, at $4.22.
Meanwhile, oil prices declined after earlier topping $97 a barrel as Tropical Storm Isaac moved into the Gulf of Mexico, prompting removal of workers from Gulf oil rigs, Bloomberg reported.
Crude futures rose to as high as $97.72 a barrel in early New York Mercantile Exchange, the highest price since May, before later falling below $95, Bloomberg reported.
Isaac, which forecasters predicted would strengthen into a hurricane by Tuesday, was on a path to make landfall near New Orleans by Tuesday evening after passing west of Florida over the weekend, news services reported.
