Gas Prices Rise but Appear at Their Peak

By David Randall

NEW YORK -- The average price of regular grade gasoline rose by 3 cents over the last two weeks, the smallest gain in more than two months of steady increases, according to the Lundberg survey released Sunday.

"Prices appears to be peaking," said Trilby Lundberg, publisher of the survey.

Drivers paid an average of $2.87 a gallon, 82 cents below the average price paid at this time last year. If strong U.S. gas supply continues and oil prices stay steady, then pump prices will likely stop rising for the first time since April, Lundberg said.

The lowest average-price gasoline in the survey of cities in the lower 48 states was found in Tucson, Arizona, at $2.45 a gallon. The most expensive was San Diego, at $3.62 a gallon.