Average US price of gas jumps by 5 cents over past 2 weeks

A customer looks at a hand written sign posted on a gas pump, showing that the service station is out of all grades of fuel in Charlotte, N.C. (AP Photo/Chris Carlson)

The average U.S. price of regular-grade gasoline jumped by 5 cents over the past two weeks, to $3.49 per gallon.

The price at the pump is $1.30 higher than a year ago.

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Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the rise comes as the cost of crude oil and ethanol surges.

Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.77 per gallon. The lowest average is in Houston, at $2.98 per gallon.

According to the survey, the average price of diesel jumped 8 cents to $3.67 a gallon. That price is also $1.30 higher than a year ago.

In North Carolina, the average price of gasoline is $3.24 according to AAA. Just one month ago the average was $3.05, up from $1.94 just one year ago.