Gasoline Price Falls 13.8 Cents, Lundberg Survey Says
Mike Mergen/Bloomberg News
Gasoline’s national average price decreased 13.8 cents in the past two weeks to $3.383 a gallon, according to the latest Lundberg Survey of filling stations.
The price is about 45.5 cents below the same period last year, analyst Trilby Lundberg said in her latest survey, which covered the two-week period ended Oct. 4. The survey, which was released Oct. 6, is issued twice a month.
Gasoline futures on the New York Mercantile Exchange fell 7.66 cents, to $2.60 a gallon in the two weeks ended Oct. 4.
The San Francisco area had the highest price among areas surveyed by Lundberg, at $3.88 a gallon, while St. Louis had the lowest at $3.01.
“Oil price cuts during September have run their course and are now on the street,” Lundberg told Bloomberg News.
“Refiners have no more to give, in my opinion. They have very narrow margins on gasoline,” she said.
The Department of Energy will release its weekly survey of diesel and gasoline pump prices in the afternoon on Oct. 7 in Washington.
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