NEW YORK, April 25 The average price for a
gallon of gasoline did not change from levels reached about
two weeks ago, capping the end of a five-week rise in gas
prices, according to an industry analyst.
The volcanic eruption in Iceland sent crude oil prices
tumbling as global travel to and from Europe was halted.
But the following week, crude oil recouped earlier losses
as fears of lower oil demand due to the eruption subsided and
air travel resumed.
"Crude oil's plunge of nearly $5 per barrel was reversed
quickly, so it ended up very close to the same spot," said
Trilby Lundberg, who edits the nationwide Lundberg survey of
some 5,000 gas stations.
She added that gas prices are closely tracking trends seen
in crude oil.
A gallon of gas as of April 23 cost $2.85 on average,
about even with the price on April 9, according to the survey.
The April 9 report marked the third consecutive Lundberg
survey to show a rise in gasoline prices. [ID:nN11158440]
"Any bump at the pump, at least for now, will probably be
modest," Lundberg said, referring to gasoline prices. "Now is
not a time of any supply tightness."
In the contiguous United States, motorists in Chicago paid
the highest average price of $3.15 for self-service, regular
unleaded gasoline. Motorists in Honolulu, Hawaii, paid the
most in the United States at $3.47 per gallon, on average.
The lowest average price was seen in Tulsa, Oklahoma, of
$2.60 a gallon.
(Reporting by Deepa Seetharaman; Editing by Jan Paschal)