Gas prices climb at the pump

February 15, 2004

CAMARILLO, Calif. (AP) – Retail gasoline prices continue to climb at the nation’s pumps, rising more than 17 cents a gallon since late December, according to a study released Sunday.
Gas prices for all grades rose 3.61 cents in the past weeks to a national average of $1.68 per gallon, according to the Lundberg Survey of 8,000 stations.
Industry analyst Trilby Lundberg said several factors were responsible for the hike, including OPEC’s decision to cut oil production by 1 million barrels a day beginning April 1.
The rate of increase was slowing, compared to the past period, but Lundberg said there is no indication ”prices have peaked or will fall anytime soon.”

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