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Average price of gas jumps on LI, across nation

Gas pumps at an Exxon Mobil gas station

Gas pumps at an Exxon Mobil gas station are shown in Stamford, Conn. Credit: AP/Mark Lennihan

The average U.S. price of regular-grade gasoline shot up 16 cents a gallon in the past two weeks, to $2.66.

Long Island gas prices have kept pace for the most part, increasing roughly 13 cents per gallon in that period, to an average $2.66, according to gasoline price website  The motorist group AAA puts the local average at nearly $2.70.

Gas prices have increased about 20 cents per gallon on average locally in the past month, according to AAA.

Industry analyst Trilby Lundberg of the Lundberg Survey says the rise comes as supplies tighten while refineries undergo maintenance in advance of increased demand during the summer driving season.

 Andy Lipow, president of Lipow Oil Associates in Houston, said Monday prices could rise another 10 cents per gallon before leveling.

"The rising price of crude is translating to higher costs for consumers," Lipow said.

Lipow added that prices generally increase in the summer because "summer-grade gas costs 15 cents to 20 cents more to manufacture than the winter variety."

Lundberg said Sunday the current national retail price is the same as it was a year ago. On Long Island, prices are 3.6 cents lower than they were a year ago, according to AAA.

The highest average price in the nation is $3.48 a gallon in the San Francisco Bay Area.

The lowest average is $2.29 in Baton Rouge, Louisiana.

The average price of diesel rose 3 cents in the past two weeks, to $3.08.

With John Callegari and AP

Long Island gas prices -- Regular unleaded

(per gallon)

Current  - $2.698

One week ago - $2.66

One month ago - $2.494

One year ago - $2.734


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