Tags: Gasoline | Price | Slides | Cents

Gasoline Price Slides Nearly 15 Cents in 2 Weeks

Sunday, 10 Nov 2013 04:56 PM

The average price for regular gasoline at U.S. pumps fell 14.57 cents in the past two weeks to $3.2171 a gallon, according to Lundberg Survey Inc.

The survey was conducted on Nov. 8 and is based on information obtained at about 2,500 filling stations by the Camarillo, California-based company.

The average, which reached a year-to-date peak in the survey of $3.795 on Feb. 22, is about 32.9 cents below the year-earlier price of $3.5454 a gallon.

“This may well be the end of the price cutting for now,” Trilby Lundberg, president of Lundberg Survey, said in a telephone interview Sunday. “It is mostly due to lower crude oil prices; that is the biggest reason for the declines at the pump.”

The highest price for gasoline in the lower 48 U.S. states among the markets surveyed was San Francisco, at $3.67 a gallon, Lundberg said.

The lowest price was in Tulsa, where customers paid an average of $2.82 a gallon. Regular gasoline averaged $3.48 on Long Island and $3.61 in Los Angeles.

Gasoline futures on the New York Mercantile Exchange fell 12 cents, or 4.5 percent, to $2.5534 a gallon in the three weeks ended Nov. 8.

In the three weeks to Nov. 8, West Texas Intermediate crude fell $6.21, or 6.2 percent, to $94.60 a barrel on the Nymex.

Since Sept. 6, gasoline prices have fallen by 36.76 cents, Lundberg said.

Lundburg said there is less anxiety about the political situation in Syria and Iran, and that means confidence is high for stable supply.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Economy
The average price for regular gasoline at U.S. pumps fell 14.57 cents in the past two weeks to $3.2171 a gallon, according to Lundberg Survey.
Gasoline,Price,Slides,Cents
254
2013-56-10
Sunday, 10 Nov 2013 04:56 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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