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Business US gas prices fall, extending summer decline

US gas prices fall, extending summer decline

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

 

CAMARILLO, Calif. (AP) — A national survey says the average price of a gallon of regular gasoline has dropped another 9 cents over the last two weeks, to $3.37, bringing the decline to 34 cents over the last 13 weeks.

Industry analyst Trilby Lundberg said Sunday that falling crude oil prices drove the declines, but the drop was also heavily impacted by a crash in prices of ethanol and the fact that winter-grade gasoline costs less to produce. If crude prices don’t rise, the average prices at the pump may drop a few more cents.

Jackson, Mississippi, had the lowest price among cities surveyed in the Lower 48 states, with $3.03 a gallon. San Francisco had the highest at $3.79 a gallon.

The average price for a gallon in California is $3.67, down 8 cents from two weeks ago, with Fresno the low average in the state at $3.56.

The average price for a gallon of midgrade gasoline was $3.59 a gallon, and premium was $3.74.

 

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