Gas prices up, heading higher

LOS ANGELES – Gas prices have jumped nearly 13 cents in the past two weeks, reaching record levels as retail prices have begun to catch up with soaring crude oil prices, an industry analyst said Sunday.

Prices are expected to continue to rise in the weeks ahead on strong demand and supply problems caused by the transition to cleaner-burning gasoline mixtures as summer approaches, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations across the country.

The average retail price for all three grades increased 12.74 cents to $2.13 per gallon between March 4 and March 18, according to the survey.

The most popular grade, self-serve regular, was priced at $2.10 a gallon, while customers paid $2.20 for mid-grade. Premium averaged $2.29 a gallon.

This is the largest price hike since the run-up to May 21, 2004, when prices hit a record $2.10, Lundberg said.

Prices are reflecting sharp hikes in the cost of crude oil in recent weeks, Lundberg said.