BURNSVILLE, Mich., Jan. 11 (UPI) -- The retail price of U.S. gasoline is expected to rise in the next few weeks, an industry group said Wednesday.
AAA nationwide average price for self-serve regular gasoline is $2.322, which is 15.1 cents higher since the middle of December and 55 cents higher than one year ago.
"During December, national average gas prices fell and remained near the $2.20 level, and consumers felt better about the economy," said Gail Weinholzer, a spokeswoman for the association's Minnesota-Iowa section.
Overall, AAA predicts 2006 will be another year of pump price volatility.
While it does not believe 2006 will revisit the highs reached after Hurricane
Katrina, which soared above $3 per gallon, AAA says it also doesn't appear prices will fall below $2 per gallon in the foreseeable future, Weinholzer said.
"Assuming there is 50 to 60 cents per gallon in taxes, operating costs and profits, the cost of retail gasoline should continue to go higher over the next week or so," she said.
