The average for regular gasoline at U.S. pumps fell 3.99 cents in the three weeks ended July 11 to $3.669 a gallon, according to Lundberg Survey Inc.
The survey is based on information obtained at about 2,500 filling stations by the Camarillo, California-based company.
The average, which is 7.91 cents below a year earlier, may fall another four cents to six cents in the next several days, Trilby Lundberg, president of Lundberg Survey, said in a telephone interview today.
“The wholesale price cuts are continuing now as refiners pass along the lower prices they’re paying for crude oil,” Lundberg said. “If we can assume that crude oil prices don’t shoot right back up, we may see further declines at the pump.”
The highest price for gasoline in the lower 48 states among the markets surveyed was in San Francisco, at $4.12 a gallon, Lundberg said. The lowest price was in Tulsa, Oklahoma, where customers paid an average $3.35 a gallon. Regular gasoline averaged $3.92 a gallon on Long Island, New York, and $4.09 in Los Angeles.