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Gas prices are jumping higher, but so are diaper and toilet paper prices

Chicago now has highest gasoline prices nationwide. With statiRoosevelt   Wabash charging $4.59 for regular. Monday April 25 2011

Chicago now has the highest gasoline prices nationwide. With a station at Roosevelt & Wabash charging $4.59 for regular. Monday, April 25, 2011 | Brian Jackson~Chicago Sun-Times

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The average U.S. price of a gallon of gasoline has jumped about 12 cents over the last two weeks, and Chicago leads the way, according to the Lundberg Survey of fuel prices.

And on Monday, two major consumer products companies warned that Americans will be paying for higher gas prices for paper towels, toilet paper and diapers.

Chicago had the nation’s highest average price for gas at $4.27, while Tucson, Ariz., had the lowest, $3.54, according to analyst Trilby Lundberg.

The national average was $3.88, as of Friday.

AAA reported the average price of a gallon of regular gas in Chicago was $4.245 Monday, up 3.5 cents from a week ago.

Procter & Gamble Co. said Monday it raised U.S. list prices for those paper products because of rising costs for oil, gas and pulp.

The Cincinnati-based consumer products maker informed retailers of increases last week. Retailers will decide how much of those price increases to pass along to shoppers.

P&G said list prices for Pampers are up 7 percent on average, Pampers wipes up 3 percent, and Charmin toilet paper and Bounty paper towels products up 5 percent.

Kimberly-Clark Corp., the maker of Huggies and Kleenex, said Monday it plans to raise prices for the same reasons, and it’s the third such announcement since the middle of March.

The company said it’s merely passing along the higher prices that it has to pay for raw materials, and it more than doubled its predictions for how much the prices for such commodities will increase.

AP



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