Monday, May 21, 2012

Price of gasoline drops 6 cents in the past 2 weeks

By Reuters

The average price for a gallon of regular gasoline in the United States fell 6.2 cents to $3.78 in the last two weeks due to a drop in crude oil prices, partly on concerns about Europe's economy, according to the nationwide Lundberg Survey.

According to the survey of some 2,500 gas stations in the continental United States, the national average for regular gasoline as of May 18, was down more than 12 cents a gallon compared with a year earlier.

It was the third straight survey to show a price decline. Prices fell 18.4 cents during the six week period, which survey editor Trilby Lundberg said was "enough" for consumers to feel.

San Francisco had the highest average price for self-serve, regular gasoline in the two-week survey period at $4.36 a gallon, while drivers in Memphis, Tennessee, paid $3.34, the least in the country.?

Copyright 2011 Thomson Reuters. Click for restrictions.

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