The average price of regular-grade gasoline has jumped 6 cents nationally over the past two weeks, to USD 2.26 a gallon.
Industry analyst Trilby Lundberg said today the hike mostly results from an agreement November 30 by major oil-producing countries to slash output.
Lundberg says the current price is 20 cents a gallon above what it was one year ago. But the 2016 average price is 31 cents below the 2015 average, and USD 1.21 a gallon below the 2014 average.
Gas in San Diego was the highest in the continental United States at USD 2.68 a gallon on average Friday. The low average was in El Paso, Texas, at USD 1.99 a gallon.
The US average diesel price is USD 2.48, up 4 cents from two weeks ago.
Disclaimer: No Business Standard Journalist was involved in creation of this content
