$1.52-a-gallon gasoline forecast by year-end
Motorists may be paying $1.52 a gallon for gasoline by year's end if pump prices continue to rise at the pace of the past 13 months, the Lundberg petroleum letter projected. The Lundberg Letter's Jan. 11 survey fo gasoline prices has shown that the average US retail price for all grades of gasoline had jumped to $1.10 a gallon -- up 7 cents from a Dec. 7 survey.
"Gasoline prices have climbed more in the past month than they rose in any month last year," said the independent petroleum letter, published in Hollywood. The biggest monthly increase in 1979 was 6.2 cents a gollon.