U.S. gasoline price hits 5-month high

WASHINGTON (Reuters) – The U.S. average retail gasoline price increased 1.4 cents during the last week to $2.05 a gallon, the highest level in five months, the Energy Department said on Monday.

The national price for regular unleaded is still down $1.34 from a year ago, the department’s Energy Information Administration said in its weekly survey of service stations.

While gasoline prices are the most expensive since mid-November, U.S. consumers have not faced the huge run-up in pump costs normally seem going into the spring driving season. Since February 1, fuel prices have increased only 16 cents a gallon.

Reuters