Survey: US gas prices down 3 ½ cents per gallon

Survey: US gas prices down 3 ½ cents per gallon

Survey: US gas prices down 3 ½ cents per gallon

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Associated Press

Posted on May 18, 2014 at 7:08 PM

Updated Monday, May 19 at 9:00 AM

CAMARILLO, Calif. (AP) — The average price of a gallon of regular gasoline in the U.S. has dropped 3 ½ cents over the past two weeks.

Industry analyst Trilby Lundberg said Sunday that the price fell to $3.69 because supplies are meeting demand. She predicts prices will continue to drop but at a moderate pace as crude oil prices remain relatively strong.

Lundberg says the decrease comes after gas prices had climbed nearly 43 cents per gallon between Feb. 7 and May 2.

Of the cities surveyed in the Lower 48 states, Albuquerque, New Mexico, had the lowest price at $3.32 per gallon, and San Francisco had the highest at $4.17.

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