Gasoline prices continued to rise Monday as vacationers join commuters on the roads during the peak summer driving season.
Pump prices likely will increase over the next couple of weeks but fall short of $3 per gallon in most states. Analysts note that demand remains lackluster while supplies are ample. And consumers worried about the economy may keep traveling to a minimum.
The national average for retail gasoline prices rose 0.1 cent to $2.756 a gallon Monday, according to Wright Express and the Oil Price Information Service. That’s an increase of 11.3 cents from a year ago.
The Energy Information Administration said the national average price for a gallon of unleaded regular rose 1.4 cents last week to $2.757 per gallon. California drivers paid the highest price, an average of $3.126 per gallon. Regionally, prices were lowest along the Gulf Coast, averaging about $2.613 per gallon.
In Colorado, gas prices averaged $2.699, according to AAA.
Benchmark crude for July delivery fell 61 cents to settle at $78.25 a barrel on the New York Mercantile Exchange.
