Retail gasoline prices rose for the 49th straight day Tuesday even though crude oil fell again.
The national average price for a gallon of regular unleaded gasoline gained a half cent to $2.674, according to auto club AAA, surpassing a stretch in early 2007 when prices moved up 48 straight days.
In late April, when this streak began, a gallon cost only $2.05.
Even during strong gasoline rallies in 2007 and 2008, prices tended to back off after gains of 20 to 40 cents per gallon, said Fred Rozell, retail director for the Oil Price Information Service.
“This is unprecedented,” he said.
A gallon of regular averaged $2.491 in Houston on Tuesday.
High unemployment and economic anxiety have led to some belt-tightening, but with gasoline prices lower than they were three years ago, Rozell does not believe there has been a tangible economic effect this summer.
“I think people have it fresh in their mind that they were paying $4.15 last year,” he said.
Benchmark crude for July delivery declined for the third straight day, falling 15 cents to settle at $70.47 a barrel on the New York Mercantile Exchange.
Analysts have been saying for more than a month that crude prices are much too high. Even though it was the third straight day of declines, oil has now closed above $70 for a full week, the first time that has happened since October.
In other Nymex trading, gasoline for July delivery rose 1.7 cents to settle at $2.0711 a gallon and heating oil fell less than a penny to settle at $1.8250. Natural gas for July delivery fell 7 cents to settle at $4.312 per million British thermal units.
In London, Brent crude prices closed flat at $70.24 a barrel on the ICE Futures exchange.
