U.S. gallon of gas jumps to $3.76, could see $4 -- just 10% below highest ever price

The average price for a gallon of gasoline in the United States has moved closer to $4, jumping more than 19 cents since mid-March to a level less than 10 percent below its all-time high, a widely followed survey said on Sunday.

The Lundberg Survey said the national average price of self-serve, regular unleaded gas was $3.765 on Friday, up from $3.573 on March 18, and up 91.3 cents from $2.852 a year ago.

Prices in several western U.S. cities are already above $4 per gallon, led by San Francisco at $4.13. Chicago was close behind at $4.11 a gallon, the survey said.

The national average would have been higher had refiners and retailers not resisted passing on rising crude oil prices as customers grow less willing to pay what it takes to fill their gas tanks, analyst Trilby Lundberg said in an interview.

"Demand has been falling at these prices," she said.

The record high average pump price is $4.112 set on July 11, 2008. Lundberg tracks roughly 2,500 gas stations. (read more)