Gas price drops below $1
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February 21, 1999: 5:41 p.m. ET
But end of price decline may be in sight, publisher warns after survey
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LOS ANGELES (CNN) - Gas prices continued to fall across the United States over the past two weeks - but there are indications that the steady decline may be coming to an end.
The Lundberg Survey of 10,000 gas stations taken Feb.19 showed that the average price of all grades of gasoline combined dropped almost 2 cents (1.61 cents) since Feb. 5, down to just under $1 (99.80 cents) per gallon.
The average price of self-serve regular dropped almost 2 cents (1.63 cents) over the same period, down to just under 94 cents (93.63 cents) per gallon.
But survey publisher Trilby Lundberg told CNN that, despite the continued glut of crude oil, "the price crash may finally be hitting bottom."
"The reason is that the spring demand for gas is right around the corner. If demand is strong enough, that may cause prices to spring back to life," Lundberg said.
The cheapest average U.S. gas price was found in St. Louis, at just under 79 cents per gallon.
The most expensive average U.S. gas price continues to be found in Honolulu, Hawaii, at just over $1.49 per gallon
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