Average US price of gas jumps by 5 cents over past 2 weeks

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline jumped by 5 cents over the past two weeks, to $3.49 per gallon.

The price at the pump is $1.30 higher than a year ago.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the rise comes as the cost of crude oil and ethanol surges.

Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.79 per gallon. The lowest average is in Houston, at $2.98 per gallon.

According to the survey, the average price of diesel jumped 8 cents to $3.67 a gallon. That price is also $1.30 higher than a year ago.

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