With many locations still paying more than $4 for a gallon of gas, Black Book is noticing that car values are climbing at a rate, “larger than the typical increase for this time of year.”

In the newest installment of Market Insights, Black Book analysts pegged car values rising by 0.23% during the week that closed on Saturday.

While car prices rose, overall wholesale values ticked 0.03% lower, according to Black Book’s volume-weighted data.

“The overall market is still not seeing the increases that are traditionally experienced this time of year,” analysts said in the new report. “Despite fuel prices softening from their peak, the full-size SUVs continue to experience heavy weekly depreciation and in contrast, the compact cars are continuing to see increasing levels of gains.”

Looking closer at cars, Black Book indicated prices six of the nine car segments increasing last week. Those previously mentioned compact cars led the way with a value climb of 0.92%, which was the largest increase for the segment since November.

Analysts added that prices for compact cars now have risen for five consecutive weeks of increases for the segment. Similarly, values for subcompact cars (up 0.53%) have increased for six weeks in a row.

Two car segments with notable value declines, according to Black Book, included luxury cars (down 0.52%) and premium sporty cars (down 0.31%).

While still declining, Black Book said its volume-weighted data showed the overall truck segment decrease came in at 0.14%, which was less than half of the prior week’s decrease of 0.33%.

Analysts indicated six out of the 13 truck segments generated increases, with more fuel-efficient crossovers pacing the movements.

Black Book found that values for compact crossovers increased 0.55%, followed by subcompact and subcompact luxury crossovers, both rising by 0.26%.

Analysts added that “gas-guzzling” full-size crossovers/SUVs sustained another large week of declines, with pricing sliding by 2.25% after the prior week’s value tumble of 2.14%.

Even full-size vans that have been in demand for some time posted a slower rate of price gains last week, according to Black Book, with an increase of only 0.01%, compared to 0.26% during the prior week.

Before summarizing the entire wholesale scene, Black Book mentioned that the estimated average weekly sales rate jumped up a bit last week and is now stands at 69%. The estimate hasn’t been at this level since December.

“The spring market seems to be in full swing, with increasing values, lower used days to turn and increased sales rate estimates,” Black Book said. “In the lanes, both nearly new and 8-plus-year-old models seem to be making splashes, as franchise dealers make up for the lack of new inventory, while independents search for sub-$10,000 inventory to meet the spring market demand.

“Rental companies still have some presence but are not as active as they have been in recent weeks,” analysts continued. “Large independents are showing up here and there but haven’t been consistent. A few sellers are still holding out with high floor prices since they know inventory will continue to be scarce, and other sellers are taking advantage of the recent increases in some segments’ wholesale values and letting it all go.

“Low-mileage, clean vehicles are still bringing premium prices in lane but with new model launches right around the corner, it may not last too much longer,” Black Book went on to say.