Gasoline prices surge to record
Mon., July 11, 2005
CAMARILLO, Calif. – Gasoline prices have hit a record average high of $2.33 a gallon, pushed up by the climbing cost of oil and strong demand in the midst of the summer vacation season, an industry analyst said Sunday.
Motorists could get more bad news, with Hurricane Dennis bedeviling Gulf of Mexico oil production, which could boost prices.
The record price, based on figures compiled Friday, was up nearly a dime from the price two weeks earlier.
According to the semimonthly Lundberg Survey of 7,000 gas stations around the country, self-serve regular gas averaged $2.31 a gallon nationwide, up from $2.21 on June 24. Midgrade averaged $2.40, with premium grade hitting $2.50.
Among the stations included in the survey, the highest price for unleaded regular was in San Diego at $2.55 a gallon. The best deal was in Charleston, S.C., at $2.09 a gallon.
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