Lundberg: Gasoline Prices Drop 10 Cents in Last Two Weeks

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he average retail price for regular gasoline declined more than 10 cents over the past two weeks to $1.83 per gallon as of Dec. 17, according to the Lundberg survey of stations nationwide.

Trucking burns an estimated 290 million gallons of gasoline each week. The survey also found the average price for mid-grade was $1.93 and premium was $2.02.

Analyst Trilby Lundberg told Reuters the fall in gas prices were caused by increased crude oil supplies and lower oil prices.

Gas prices have fallen more than 21 cents per gallon since Oct. 22. However, the average price remained about 35 cents above a year earlier, Lundberg said.

The survey found the lowest average price for regular was in Tulsa, Okla., at $1.56 per gallon, The highest was in Honolulu, at $2.32.