Average gas prices climb 25 cents a gallon to $2.89

Business

Photo of a young man agonizing over how much it costs to fill his gas tank.

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline jumped 25 cents a gallon over the past three weeks to $2.89.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the price spike is due to higher crude oil costs, the lingering effect of power outages that caused several Texas refineries to shut down or reduce operations last month and surging prices on credits for a renewable fuel.

The price at the pump has climbed 72 cents since Nov. 20.

The highest average price in the nation is $3.86 a gallon in the San Francisco Bay Area. The lowest average is $2.48 in Baton Rouge, Louisiana.

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