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Lundberg: Brace for a Price Jump at the Gas Pump

The average price of U.S. gasoline dipped slightly over the past three weeks due to plentiful supplies, but prices are expected to jump soon as retailers pass on the higher cost of wholesale gasoline to consumers, the Lundberg survey said on Sunday.

Gasoline cost $3.5908 a gallon on average, according to the widely followed survey of about 2,500 retail stations taken on July 12. That is 0.61 cent a gallon cheaper than the last survey on June 21, but still 18.05 cents higher than a year ago.

via www.moneynews.com

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