Average US gas price has jumped 33 cents in past 2 weeks

How do gas prices work?

Politicians often take the heat for high gas prices, but they have little to do with what you pay at the pump.

CAMARILLO, Calif. (AP) - The average U.S. price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump comes amid higher crude oil costs and tight gasoline supplies.

The average price at the pump is $1.61 higher than it was one year ago.

Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $6.20 per gallon. The lowest average is in Tulsa, Oklahoma, at $3.92 per gallon.

According to the survey, the average price of diesel rose 9 cents over two weeks, to $5.66 a gallon.

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