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Despite a dramatic drop in crude oil prices, the average price of gas up about a penny over the past two weeks to $2.26 a gallon:
(Lundberg) “Refiner margins and retailer margins had been so skinny that when the crude oil price cuts began to come, they made themselves well first by keeping some of those cuts. Some of them however are on their way to the street.”
Oil industry analyst Trilby Lundberg with the Lundberg Survey:
(Lundberg) “New Jersey hiked its gasoline tax nearly 23 cents and that was enough to move the overall national tax up by a penny, accounting for approximately the rise of the pump.”
The highest price $2.83 in Los Angeles. The lowest $1.84 in Tulsa, Oklahoma.
Lisa Lacerra, FOX News.
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