Tags: gasoline | price | fall | Lundberg

Average Retail Gasoline Prices Fall 7 Cents

Sunday, 18 Nov 2012 04:11 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The average price for a gallon of regular gasoline in the United States fell during the past two weeks as demand took a hit from supply disruption after Hurricane Sandy and the loss of daylight savings time, according to a widely followed survey released on Sunday.

Gasoline prices averaged $3.4728 per gallon on Nov. 16, down 7.26 cents from Nov. 2, said Trilby Lundberg, editor of the Lundberg Survey. With the most recent decline, the overall drop in gasoline prices for the past six weeks have added up to 36.47 cents per gallon.

"U.S. crude oil prices actually rose a little in the past two weeks but the weak gasoline demand has helped pull down prices and contributed to the down trend (in gasoline prices)," Lundberg said.

"Unless we have a significant reason for crude oil prices to rise, such as escalating conflicts in the Middle East, I do expect retail gasoline prices to continue to edge down in the near future," she added.

The highest prices for regular gasoline recorded in the most recent survey were on Long Island, New York, at an average of $4.18 a gallon, while drivers in Memphis, Tennessee, were paying the least at $3.04 per gallon.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved