Reply #4: Average gasoline price jumps more than 5 cents to $2.30 a gallon [View All]

[ozymandius]

The average price of gasoline bounced up 5.5 cents in the past week, to $2.296 a gallon, marking the third consecutive week of price increases, the U.S. Energy Information Administration reported Tuesday.

The stream of price increases signals the start of the yearly jump in fuel prices that typically tapers off in May, though has continued through the summer the past two years.

"We don't see any indication that we're headed toward $3," as happened the past two years, says EIA senior analyst Mike Burdette. "Realistically on a given day or week we could see $2.60" this spring or summer, he says.

http://www.usatoday.com/money/industries/energy/2007-02-20-weekly-gas-price_x.htm?csp=N009