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Gas Prices Steady

June 01, 1998|Associated Press

Gasoline prices were virtually unchanged at the pump in the past three weeks as abundant supply kept up with increased summer demand, according to a nationwide survey released Sunday.

The average retail price of gasoline, including all grades and taxes, was about $1.14 a gallon, according to the weekly Lundberg Survey of 10,000 stations nationwide conducted Friday.

That was up just 0.12 cent from the May 8 survey, industry analyst Trilby Lundberg said.

Memorial Day, the traditional start of the summer travel season, failed to kick off a rise in pump prices because a "more than ample supply" kept pace, Lundberg said.

At self-service pumps, the average price for regular gasoline was about $1.09 a gallon, mid-grade was about $1.19 and premium about $1.27.

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