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Gasoline Drops 5.6¢ to $3.74, Lundberg Reports

Decline Is First of Year

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Gasoline’s average pump price fell 5.6 cents in the past two weeks to $3.74 a gallon, according to the latest Lundberg survey of filling stations released Sunday. Diesel fell 4 cents to $4.13.

The decline was the first this year, analyst Trilby Lundberg said following release of the survey, which covered the two-week period ended Friday. Lundberg told Bloomberg News she expected further declines to follow.

Midgrade’s average price fell 4 cents to $3.91 a gallon, while premium dropped a nickel to $4.04, the survey said.

Billings, Mont., had the lowest gasoline price among cities surveyed, at $3.31 a gallon, while Los Angeles was the highest, at $4.23.

Oil fell to as low as $92.52 a barrel early Monday on the New York Mercantile Exchange, down slightly from Friday, Bloomberg reported.

Crude futures closed the Nymex trading day last Monday at $90.12, the lowest price since Dec. 24, according to Bloomberg figures.

The Department of Energy will release its weekly survey of diesel and gasoline pump prices Monday afternoon in Washington.

By Transport Topics

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