Gas jumps nearly 18 cents in 2 weeks

Full Story atmoney.cnn.com

CNN) — Gasoline prices jumped nearly 18 cents over the past two weeks, the first two-week rise since early August, according to a survey published Sunday.

The average price of a gallon of self-serve regular was $2.655 as of October 23, said Trilby Lundberg, author of the Lundberg Survey. Since the October 9 survey, the average price per gallon has climbed by 17.82 cents. The current price is 12.3 cents less than the price a year ago.

The retail price of diesel fuel jumped a similar amount in the past two weeks — 16.75 cents. The price of diesel fuel is $2.817, Lundberg said.

There has been no significant increase in the demand for crude oil, nor large decrease in supplies of crude that can explain almost a $9 per barrel jump in the past two weeks, according to Lundberg. Crude oil now costs $80.50 a barrel.