Gasoline Drops 9¢ to $3.91 a Gallon, Lundberg Says
Gasoline dropped 9 cents in the past two weeks to a national average $3.91 per gallon, according to the latest Lundberg Survey of filling stations released Sunday.
The drop for the two weeks ended Friday followed almost six months of price run ups, which topped out at $4 a gallon in the last survey, slightly higher than the Department of Energy’s $3.965 peak two weeks ago.
Mid-grade’s national average is $4.05 per gallon and premium is averaging $4.16, analyst Trilby Lundberg said in her twice-monthly report.
Gasoline futures prices, which are traded on the New York Mercantile Exchange, fell about 15% in the past three weeks on declining oil prices, Bloomberg reported Monday.
Oil has dropped from $113.93 at the end of April — a more than two-and-a-half-year high — to below $98 a barrel in early Nymex trading Monday, Bloomberg said.
Jackson, Miss., had the lowest average price for regular gasoline, at $3.60 per gallon, while Chicago was the highest, at $4.38 per gallon, Lundberg said.
DOE will release its weekly survey of diesel and gasoline prices Monday afternoon in Washington.
