Gas Dips 2 Cents, Lundberg Says

The average price of regular gasoline dropped about 2 cents in the past two weeks, according to the latest Lundberg Survey of filling stations, released Sunday.

Gas fell to $2.79 a gallon, the twice-monthly survey said. Mid-grade was $2.91 and premium averaged $3.03.

Oil prices hit record highs last week, closing at more than $83 a barrel on Thursday on the New York Mercantile Exchange for the first time before falling to close the week at $81.62 on Friday, Bloomberg reported.

The lowest average price for gasoline was in Newark, N.J., at $2.51. The highest was in Chicago at $3.16, the Lundberg Survey said.