NEW YORK Oct 20 The average price for a gallon
of regular gasoline in the United States slipped 2.01 cents in
the past two weeks, though the multi-week decline may soon end
unless crude oil drops further, according to the Lundberg survey
released on Sunday.
The average price of just more than $3.36 per gallon is
about 22 cents cheaper than six weeks ago, based on the Oct. 18
survey of some 2,500 retail stations in the lower 48 states,
said survey editor Trilby Lundberg. Prices are 39 cents cheaper
than a year ago.
"Unless crude prices slip further from here, I think this is
probably it for the retail price decline; the pace of decline
has already greatly slowed," said Lundberg, who is based in
U.S. crude futures fell 2.9 percent over the past two
weeks. "If they fall further," Lundberg said, "that could give
more breathing room for refiners to cut prices, but right now
they have skimpy margins for gasoline."
Albuquerque, New Mexico, had the least expensive gasoline in
the country at $3.03 per gallon, according to the survey, while
drivers in San Francisco - often the country's priciest gasoline
market - paid the most, at $3.81 per gallon.