Gas prices are starting to climb again after months of slowly falling. A Lundberg survey found gas prices climbed 8 cents in the last two weeks to a nationwide average price for $1.86 unleaded gasoline. The low of $1.66 occured five weeks ago according to Lundberg. Lundberg says rising oil prices are the main reason gas prices are climbing again.
"Moderately rising oil prices are the chief reason gasoline prices are up," said Lundberg. "Also, low gasoline prices did their work and have breathed a little life back into gasoline demand."
Lundberg said that for full year 2008, gasoline demand suffered shrinkage of 3.5 percent but that after the five-month price crash, demand's latest decline is just 0.6 percent.
The AAA's Fuel Gauge Report also has the nationwide average gas price up about 20 cents in the last month.
The Wall Street Journalsays the price increase is a delayed reaction to refiners cutting back production late last year.
