Gasoline Prices Continue to Drop, Lundberg Reports

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.S. regular gasoline pump prices plunged 23 cents in the past two weeks to an average of $2.45 a gallon for three grades, analyst Trilby Lundberg reported in her latest survey.

Unleaded regular fell to $2.43 from $2.66, Lundberg said in her semimonthly Lunbderg Survey of filling stations.

Prices had fallen 25 cents in the previous two weeks and 10 cents in the two weeks before that, according to Lundberg's figures.

The 49-cent drop in October was the highest in history for a single month, Lundberg told CNBC Monday. The price drops were led by rebounding refinery capacity following the Gulf Coast hurricanes in August and September and lower demand due to seasonal dropoff and high prices, she said.

Self-serve regular averaged $2.91 a gallon nationwide. The price for midgrade was $3.01, while premium-grade hit $3.11, Lundberg said.

The lowest average price in the nation for regular unleaded among the stations surveyed was $2.06 a gallon in Tulsa, Okla. The highest was $2.74 in Miami.