According to the latest figures released, the average price of gasoline in the US market rose for the first time in 10 weeks as retailers decided to pass on the increased wholesale price to the consumers in the market.

According to a new survey, the prices have risen more than 8 cents in the previous two hours. The price of gasoline was priced at $3.6746 per gallon on average on July 26 compared to $3.5908 on July 12, showed the survey, which included about 2,500 retail stations across the country. The price is mainly due to the increase in the cost of refined crude and not the crude oil prices in the global markets, which have a actually fallen in the previous two weeks.

Trilby Lundberg, editor of the Lundberg survey said, "Several days ago, refiners were already paying more for crude and they translated those higher crude prices into higher wholesale prices for gasoline that they charge. This means that several days ago, retailers had already received price hikes in what they pay to refiners. Retailers then had to pass that increase to motorists in order to be financially viable."

The cheapest gasoline was recorded in Charleston, South Carolina, at $3.34 per gallon compared to $3.22 two weeks ago while Chicago paid the most at $4.10 a gallon compared to $4.04 during the previous two weeks.