Gas prices fall below $2.50 a gallon

Nationwide average declined nearly 5 cents over the past two weeks, survey says.

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(CNN) -- Prices at the pump fell more than four cents over the past two weeks, continuing a downward slide despite a rise in crude oil prices, according to a survey published Sunday.

The average price of a gallon of self-serve regular was $2.48 as of October 9, a decrease of 4.52 cents over the past two weeks, the Lundberg Survey found.

Crude oil prices rose during the same two-week period, said publisher Trilby Lundberg, but refiners and retailers lost profit margin so the hike did not translate to higher prices.

"Both refiners and retailers have had a very tough time in the economy," she said, adding that "there's been a long period of deteriorating business" for refiners.

The United States is entering a lower season for gasoline demand, which will drop even further next month when Daylight Savings Time ends, Lundberg said. "When there's fewer daylight hours, people drive less."

"Absent a supply problem, probably we will see continuing price declines on the street," she said.

The highest average price was in Anchorage, Alaska, at $3.23 per gallon, she said. The lowest was in Cheyenne, Wyoming, at $2.16.

Here are the prices in some other cities:

- Honolulu, Hawaii - $3.16

- San Francisco, California - $3.09

- Houston, Texas - $2.23

- Atlanta, Georgia - $2.29

- Detroit, Michigan - $2.44

- Providence, Rhode Island - $2.51

- Salt Lake City, Utah - $2.58

- Los Angeles, California - $3.00

- Miami, Florida - $2.43

- Portland, Oregon - $2.70 To top of page

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