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Article: AVERAGE PRICE OF GASOLINE UP

Article from:
THE JOURNAL RECORD
Article date:
July 28, 1987
Copyright

LOS ANGELES (AP) - The average price of a gallon of gasoline rose nearly 1 1/2 cents to more than $1.01 in the past two weeks as the price of crude oil continued to creep upward, an industry analyst said.

``The rise in prices does not translate yet to a healthier U.S. petroleum industry,'' said Trilby Lundberg, publisher of the Lundberg Letter, an industry publication.

``Negative margins still occur for many refiners and many of the nation's producers are still unable to extract domestic crude economically due to last year's price crash.''

The Lundberg survey, completed Friday, found the average price nationwide was 101.66 cents a gallon, up 1.48 ...

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