Despite $2 gas, U.S. price rise smallest in 5 years

WASHINGTON (Reuters) – Even though the U.S. pump price has passed $2 a gallon, motorists still have seen the smallest seasonal increase in gasoline prices in the last five years, but fuel demand will be remain restrained as the economic slowdown continues to take its toll.

Pump prices usually climb sharply between February and April as fuel demand picks up heading into the busy spring driving season, with families on vacation and students going on spring break.

But the good news for drivers is the trend for smaller-than-normal increases in gasoline prices is expected at least through the Memorial Day holiday at the end of May.

Reuters