LOS ANGELES — Memorial Day weekend motorists paid about 13 cents more per gallon for gasoline than they did during the Thanksgiving holiday season when prices bottomed out, an oil industry analyst said Sunday.
A nationwide survey of 13,000 gasoline stations May 22 found that the average price for all types of gasoline was 97.55 cents per gallon, said Trilby Lundberg, publisher of the Lundberg Survey, a newsletter that follows trends in the oil industry.
Lundberg's biweekly surveys showed prices bottomed out last November at national average of about 84 cents per gallon.
"The elements driving the prices up (since) November ... are still there and suggest further increases at retail," said Lundberg. "In order of impact they are: stable and stronger crude oil prices, costs of manufacturing and distribution, costs of dispensing on the street and wholesale price strengths."
Another element, U.S. consumption, "is the wild card," said Lundberg.