U.S. Gasoline Rises 0.46c to $2.4030/Gal in Lundberg Survey 2017-05-21 17:07:12.877 GMT
By Sarah Ponczek
(Bloomberg) -- Avg price for regular gasoline at U.S. pumps rises 0.46c to $2.4030/gal, according to Lundberg Survey Inc.
* “Behind that small change in average retail price were significant crude oil price increases and retailer business margin losses,” Trilby Lundberg, president of Lundberg Survey, says in phone interview
** Crude price increases came from excitement over possibility June OPEC meeting will usher in 9 more months of output curtailment and a weaker U.S. dollar, Lundberg says
* Survey by Camarillo, Calif.-based co. conducted May 19, based on information collected at 2,500 filling stations
* Price is 8.77c higher than in survey completed equivalent date a year earlier
* Highest avg U.S. retail price: $3.10/gal in San Francisco bay area
** Pump price increases in western markets had to do with curtailed utilization rates at refiner levels: Lundberg
* Lowest avg U.S. retail price: $2.02/gal in Jackson, Miss.
* Long Island, N.Y.: $2.44/gal
* Los Angeles: $2.99/gal
* Houston: $2.17/gal
* "It is possible that pump prices will move up, but absent a significant oil price increase any pump price from here is likely to be rather modest," Lundberg says