Prices keep going up locally, nationwide

<br>OKLAHOMA CITY (AP) _ Gasoline prices in Oklahoma are climbing at the same rate as those nationally _ quickly. <br><br>A Lundberg Survey of 8,000 gas stations nationwide showed prices jumped a record

Tuesday, March 26th 2002, 12:00 am

By: News On 6

OKLAHOMA CITY (AP) _ Gasoline prices in Oklahoma are climbing at the same rate as those nationally _ quickly.

A Lundberg Survey of 8,000 gas stations nationwide showed prices jumped a record 14 cents during the past two weeks. Friday's weighted price per gallon for all grades and taxes was nearly $1.38, up 14.36 cents per gallon from March 8.

It was the largest two-week cents-per-gallon increase since the survey began a half-century ago, analyst Trilby Lundberg said. The next-largest was 12.69 cents in April 2001.

Figures from AAA Oklahoma show a 14-cent increase in the statewide fuel average for unleaded regular during the same period, to $1.26 per gallon on Monday.

``This is the biggest jump we've had since last summer,'' said Chuck Mai, spokesman for AAA Oklahoma.''

Dennis O'Brien, a fuel supply expert at the University of Oklahoma, said Oklahoma prices are more volatile than other states.

``They're on the end of a chain, and the chain that rattles Oklahoma begins in Chicago,'' he said

O'Brien said during times of higher consumption _ such as spring break and the Easter season _ some Oklahoma gasoline supplies are drawn northward, raising prices here.

According to AAA, the lowest gas prices in the nation are in Georgia at $1.20 a gallon.

Various factors caused the increase, Lundberg said.

Crude oil prices have continued to rise with an agreement by the Organization of Petroleum Exporting Countries to maintain production cuts through June. U.S. oil inventories are down as refineries perform maintenance for a seasonal rise in demand that is already beginning.

Refineries serving many urban areas also have to reduce the vapor pressure of their fuel every March to meet emissions requirements, she said.

O'Brien said there still is plenty of gasoline in the United States. Stocks are still far higher than the five-year average, which he said could begin to affect prices before long.

When spring break and Easter consumption drops, prices should moderate, at least until May, when Memorial Day will raise them again, he said.