Advertisement

TRAVEL

From Times Staff and Wire Reports

Demand Drives Gasoline Prices Higher: Higher demand drove the price of gasoline up nearly 2 cents the past two weeks, and further increases are likely, according to the Lundberg Survey. The average price of all grades at the pump rose 1.94 cents to 120.78 cents per gallon between April 10 and April 24, said survey director Trilby Lundberg. The two primary reasons for the jump were higher seasonal demand and seasonal environmental restrictions that increase the cost of refining gasoline from crude oil, she said. The Environmental Protection Agency requires refiners to use more expensive ingredients in the refining process during warm-weather months to reduce the volatility of gasoline. The more costly process also means that refiners get less gasoline per barrel of crude. Motorists are buying more gasoline, partly as a result of economic recovery in some parts of the nation.

Advertisement