NEW YORK Aug 24 The average price of a gallon
of gasoline in the United States fell by 4 cents in the past two
weeks as crude oil prices continued a broad decline, according
to the Lundberg survey released on Sunday.
Prices fell to an average of $3.48 per gallon for regular
grade gasoline, according to the survey conducted Aug. 22. That
extends a decline in prices to nine weeks, survey publisher
Trilby Lundberg said.
"This is really a reflection of the crude oil market, and
crude oil is by far the biggest component in the retail price of
gasoline and is the chief determinant as to directional movement
in the retail price of gasoline," said Lundberg.
The average price for gasoline is about 8 cents lower than a
The San Francisco Bay Area had the highest price within the
survey area, at $3.92 per gallon for regular, while the lowest
price was in Jackson, Mississippi, where regular grade cost
$3.11 per gallon.
(Reporting by Chuck Mikolajczak; Editing by Leslie Adler)