Gas under $4, down 12 cents over two weeks

The average price of gas dipped below $4 a gallon for the first time since the start of June, according to a national survey.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

If gas prices continue to go down, I will:
  • Go back to old driving habits
  • Drive the same way I do now
  • Still find new ways to save gas

NEW YORK (CNN) -- The average price of gas dropped just barely under $4 a gallon for the first time since the beginning of June, according to a national survey released Sunday.

The survey showed that the average price at gas stations across the nation was a fraction of a cent below $4.00 for a gallon of self-serve regular, said survey publisher Trilby Lundberg.

The price dipped about 12 cents over two weeks. The survey, which tallies prices at thousands of gas stations nationwide, found an average of $3.9959.

"It is good that we are a under 4 dollars a gallon," said Lundberg. "But it is the drop of 12 cents that really counts."

Some cities saw a drop of more than 20 cents in the last two weeks since the previous survey, Lundberg said. She said the drop was caused largely by a decline in the record prices of crude oil.

On July 25, the day the latest survey was conducted, crude oil prices were at about $123 a barrel -- down from about $145 earlier in the month, Lundberg said.

Also, a slowdown in demand may have helped reduce gas prices, Lundberg said. She added that there are indications gas prices could drop another dime nationally in coming weeks.

The Lundberg Survey found Anchorage, Alaska, had the highest average gas price at $4.43. Wichita, Kansas had the cheapest gas at $3.61.

Here's a look at the average prices in some other metro areas surveyed:

-- Cleveland, Ohio - $3.77

-- Detroit, Michigan - $3.82

-- Houston, Texas - $3.87

-- Birmingham, Alabama - $3.90

-- Denver, Colorado -$3.95

-- Atlanta, Georgia - $3.98

-- Boston, Massachusetts - $4.02

-- Seattle, Washington - $4.23

-- San Francisco, California - $4.40  To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
10 things you'll love about Windows 10 There's a lot to like about Windows 10. Here are our favorite features in Microsoft's soon-to-be-released operating system. More
Warren Buffett's gone cold. How his top 10 stocks are doing The Oracle of Omaha is an investing legend. But several of Berkshire Hathaway's biggest investments are off to a lousy start in 2015. Will shareholders complain at the annual meeting in Omaha on Saturday? More
BMW's M235i doesn't compromise BMW's new M235i gives you the performance of an M car for a lot less money. More