|
U.S. gasoline prices dip
|
 |
July 16, 2001: 7:59 a.m. ET
Prices down 13 cents in past 3 weeks, despite slight rise in crude oil prices
|
CAMARILLO, Calif. (CNN) - Gas prices fell 13 cents during the past three weeks, dropping to a national average of $1.47 for a gallon of self-serve regular, a survey said. That's 16 cents a gallon lower than a year ago.
The dramatic drop comes in the middle of the summer driving season, when demand for gasoline is typically highest, said Trilby Lundberg, publisher of the Lundberg Survey.
| |
|
|
Gas prices fall 13 cents. | |
Her survey of more than 8,000 gas stations showed the pace at which prices have tumbled has slowed slightly. During the three weeks prior to the July 13 survey, prices dropped at a rate of 4.27 cents per week. That's slightly less than the 4.73 cent-per-week drop during the prior two weeks.
Lundberg credited continued ample supplies of gasoline after a tight period during the spring. "Just when we need it, we have it," she said, referring to the summer season, when Americans tend to pile into their cars for vacations.
The drop came despite a slight increase in the price of crude oil, she said. "If the prices don't rise appreciably more, I think we can expect some further gas price cuts, but perhaps at an even more reduced pace," Lundberg said.
Another factor contributing to the lower prices is that supplies of a key additive, MTBE, are ample, she said. Many cities require MBTE be added to gas to reduce air pollution.
At an average of $1.16 per gallon, Tulsa drivers paid the least for a gallon of self-serve regular. At $1.91, Honolulu drivers paid out the most.
Here are some other average prices: San Francisco: $1.89, Atlanta: $1.25, Jackson, Miss. $1.30, Cincinnati: $1.33, Sioux Falls, S.D.: $1.37, Philadelphia: $1.62, Phoenix, Ariz.: $1.53, St. Louis: $1.28, Chicago: $1.41 and Boston: $1.61. 
|
|
|
|
|
 |
|
