Survey: US Gas Prices Jump 3 Cents Per Gallon

MIAMI (CBSMiami/AP) —  Prices at the pump continue to rise for the 12th straight week, according to a survey released Sunday.

The average price of a gallon of regular gasoline in the U.S. rose 3 cents, to $3.72, during the past two weeks.

Industry analyst Trilby Lundberg says gas prices are about to tumble, however, as crude oil and wholesale gasoline prices have started falling due to higher-than-expected crude output in Libya and ample U.S. crude oil stocks and ramped up production of gasoline.

Midgrade gasoline costs an average of $3.13 a gallon, and premium was $4.05 a gallon. Diesel was $4 a gallon.

TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

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