Gasoline prices rise to national average of $2.87

NEW YORK — The national average price for gasoline rose for the 11th straight week, according to a government report released Monday.

The U.S. Energy Information Administration said drivers paid an average of $2.876 for a gallon of regular gasoline in the week ended April 16, up 7.4 cents from a week ago and up 9.3 cents from a year ago.

Over the past 11 weeks, the national average price has surged 71.1 cents, or 33 percent, from $2.165 on Jan. 29.

On Monday, prices in Spokane averaged $2.958 for regular – the lowest price among the state’s metropolitan areas. Seattle motorists were paying $3.130. Bellingham’s price was the highest at $3.196. The state average was $3.099.

Some of this week’s sharpest gains were in the Lower Atlantic region of the East Coast, which stretches from West Virginia to Florida. Prices there gained 10.3 cents in the week to an average of $2.841.

The nation’s highest average prices remain on the West Coast at $3.195 per gallon, up 5.7 cents from the prior week.

Prices at the pump have been tracking the gasoline futures market, which has surged recently amid strong demand. Problems at U.S. refineries have also limited some production, and gasoline inventories sank by 5.5 million barrels to 199.7 million barrels during the first week of April.

Gasoline futures, though, eased Monday, falling 6.4 cents to $2.1157 per gallon in trading on the New York Mercantile Exchange.

Light, sweet crude for May delivery slipped 2 cents to settle at $63.61 per barrel on the Nymex.