LOS ANGELES - Retail gas prices hit yet another record high over the past two weeks and could go even higher before the traditional post-Labor Day driving decline ends demands pressure, according to a nationwide survey.
While gas prices usually peak in August, any major disruption to oil production facilities in the Gulf of Mexico caused by Hurricane Katrina could keep prices high even longer. The storm was heading for New Orleans Sunday with 175-mph winds and a threat of a 28-foot storm surge.
The average price for all three grades rose nearly 13 cents to $2.65 in the two weeks ending Aug. 26, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country. The figures were not adjusted for inflation.
That follows an increase of nearly 20 cents in the prior three weeks. Retail gas prices as measured by the survey have risen an average of 83 cents since early January.
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