Don't expect return to $4 gas anytime soon

By Catherine Clifford
CNNMoney.com

NEW YORK (CNNMoney.com) - Gasoline prices have surged some 10 percent over the past week, but don't expect the $4-a-gallon record highs of last summer anytime soon.

The national average for a gallon of gasoline has jumped nearly 16 cents this week to $1.782 a gallon, according to motorist group AAA's daily survey. But current prices are still more than 56 percent cheaper than last summer, when they topped out at $4.114 a gallon.

The economic slowdown pushed drivers to close their wallets during the summer driving season and find other modes of transport. That shift hasn't changed much as the country remains mired in a recession.

"Demand is still lousy and I think it is going to be lousy for the next four, five or six weeks, and that is traditional for this time of year and that will be exacerbated by the job losses," said Tom Kloza, chief oil analyst at the Oil Price Information Service.