US gas prices rise 4 cents a gallon; big hikes may be ending

AP News
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Posted: May 31, 2015 1:55 PM

CAMARILLO, Calif. (AP) — The average price of gasoline has increased 4 cents a gallon over the past two weeks to $2.84 a gallon.

Still, that's a tiny increase compared to the 35-cent jump recorded over the previous five weeks.

Industry analyst Trilby Lundberg said Sunday that it's also an indication gas prices may be close to peaking as the summer driving season approaches.

Lundberg says oil prices rose only slightly last week.

Meantime, with more refineries coming back online after maintenance, supplies should increase, stabilizing prices.

The average national price for midgrade gas was $3.04, with premium going for $3.20.

The highest price recorded in the continental United States was $3.83 in Los Angeles. The lowest was $2.36, in Tulsa, Oklahoma.

The average price in California was $3.66, down 10 cents a gallon.