CNN/Money One for credit card only hard offer form at $9.95 One for risk-free form at $14.95 w/ $9.95 upsell  
News > Jobs & Economy
graphic
Gasoline down, but 'It can't last'
Lundberg survey shows 5 cent drop over past three weeks, but expects rising crude to impact pump.
August 16, 2004: 12:26 PM EDT

graphic
graphic graphic graphic
graphic
A new survey shows the average price of self-serve regular dropped by nearly a nickel per gallon over the past three weeks, but the drop could be temporary because of the recent surge in crude prices. CNNfn's Mary Snow takes a look.

premium content Play video
(Real or Windows Media)
graphic
graphic

ATLANTA (CNN) - A recent surge in the price of crude oil has yet to be felt at U.S. filling stations, where gasoline prices dropped nearly a nickel per gallon during the past three weeks, to $1.87 per gallon of self-serve regular, a national survey said Sunday.

That means prices have tumbled 20 cents since May 21, when they peaked at $2.07 per gallon of self-serve regular, said Trilby Lundberg, publisher of the Lundberg Survey, which tallies gas prices at about 7,000 gas stations every two or three weeks.

But don't count on the price of gas to stay where it is for long before heading back up, she said: Even as gas prices have been falling since the May 21 peak, the price of crude has been spurting, closing Friday at an all-time high of $46.58.

"It can't last," Lundberg said, attributing the fall in gasoline prices to increased supply. "Wholesale gasoline prices are already responding to the crude oil price hikes, and are on the way up, so a turnaround at the pump can be expected fairly quickly."

At $1.72 per gallon, drivers in Tulsa, Okla., paid the least in the nation; Honolulu drivers paid the most, at $2.26.

Here are some other prices: Atlanta: $1.75; Dallas: $1.78; Miami: $1.83; Seattle: $1.89; Sacramento, Calif.: $1.99; Hartford, Conn.: $1.98; Pittsburgh: $1.83; St. Louis: $1.83;  Top of page




  More on NEWS
JPMorgan dramatically slashes Tesla's stock price forecast
Greece is finally done with its epic bailout binge
Europe is preparing another crackdown on Big Tech
  TODAY'S TOP STORIES
7 things to know before the bell
SoftBank and Toyota want driverless cars to change the world
Aston Martin falls 5% in its London IPO




graphic graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.