Business briefs

CAMARILLO, Calif. — The U.S. price of gasoline increased nearly 10 cents a gallon during the past three weeks, but remains well below prices from a year ago.

That’s according to the national Lundberg Survey of fuel prices released Sunday.

Analyst Trilby Lundberg says the average U.S. price of regular grade gasoline was $2.05 a gallon Friday, when the survey was done.

That’s up from $1.95 a gallon recorded on March 20, but down $1.27 from the price at this time last year.

The lowest price for gasoline in the U.S. was found in Newark, N.J. at $1.83 a gallon. The highest was in Anchorage at $2.40.

The lowest price in California was $2.30 a gallon in Stockton and the highest was $2.33 in San Diego.

The average price in Los Angeles was $2.32.

Shippers face higher

insurance as pirates run amok

LONDON — Shipping your oil across the Gulf of Aden? Don’t forget your piracy insurance.

As a ragtag group of gunmen faced off for days against the U.S. Navy near the coast of Somalia before a cargo ship captain was freed Sunday, industry-watchers say shipping companies already smarting from the global downturn are forced to pony up extra cash for steeper premiums to cover multimillion dollar ransoms or take the long way around African continent in the hope of dodging hijackers.

"The pirates were the only people who had a good year in 2008,” said Crispian Cuss, a security consultant with the Dubai-based Olive Group.

The Gulf of Aden, which connects the Indian Ocean to the Red Sea and the Suez Canal, is one of the busiest and most dangerous waterways in the world. As pirates have become more aggressive, the cost of insuring ships has gone up. Some companies are spending more time training their crews, others are avoiding the area altogether — taking long trips around the Africa’s southern tip that can potentially add millions to the cost of each journey.

Challenging season for Sierra ski resorts ending

RENO, Nev. — Sierra Nevada ski resorts are beginning to shut down lifts for the season after what some operators are calling a "very challenging year” because of the economy’s downhill run.

The Boreal, Soda Springs and Homewood resorts around Lake Tahoe closed on Sunday, a week before the nearby Alpine Meadows, Heavenly, Northstar-at-Tahoe and Diamond Peak ski areas plan to halt operations.

In a message on the resort’s Web site, Alpine Meadows executives acknowledged the economy is prompting an earlier-than-usual shutdown of their slopes. Last year, the resort closed May 4.

Art Chapman, president of JMA Ventures, and Jim Kercher, chief operating officer and general manager of Alpine Meadows, said it was "a very challenging year” for the industry as skier counts and revenue were down sharply at all Tahoe resorts.

"Our decision to close April 19 was driven by the unfortunate fact that we are not seeing the number of skiers necessary to cover our operating costs on weekdays or weekends,” they wrote.