Gasoline, Gasoline Prices | featured news

U.S. gas prices have edged up 6 cents over the past two weeks, but don't fret that a steady climb is on the horizon, the publisher of a new survey said Sunday.

Oil prices tumbled nearly 5 percent on Wednesday, as easing supply concerns sent gasoline into a tailspin that briefly forced trading on the New York Mercantile Exchange to stop.

The average gas price in the United States has hit the $4 mark, just 11 cents shy of the all-time high, according to a survey published Sunday.

The average price of a gallon of gasoline in the United States rose slightly in the last two weeks and will likely hold steady for some time, according to an industry analyst.

The 0.7 percent pace in June was slightly faster than expected, but the core inflation measure remained relatively tame.

The government says retail sales advanced in June by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the battered auto sector.

The price of a gallon of gasoline continues to climb, rising an average of 17 cents over the past two weeks.

Crude oil rose to a seven-month high and gasoline surged after Goldman Sachs Group Inc. said prices may reach $85 by the end of the year as demand recovers and supplies shrink.

Consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.