The average price of gasoline rose by just over a nickel in the last two weeks, as rising crude prices hit consumers.
The average price of self-serve regular gasoline was $2.82 a gallon on Friday, according to the latest Lundberg Survey. That’s 5.23 cents higher than two weeks earlier.
Retailers raised prices to maintain their profit margins in the face of rising crude oil costs, publisher Trilby Lundberg said, according to CNN.
The price of oil has risen as a weak economy and expectations of further action by the Federal Reserve drive the dollar down.
The highest average price in the continental U.S. was in San Francisco, at $3.16 a gallon. The lowest was $2.59, in St. Louis.