Reuters: U.S.: Gas prices drop 14 cents in two weeks: survey

Reuters: U.S. Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Gas prices drop 14 cents in two weeks: survey Jun 24th 2012, 20:37 Sun Jun 24, 2012 4:37pm EDT (Reuters) - The average price for a gallon of regular gasoline in the country fell 14.6 cents to $3.478 in the last two weeks, due to sliding crude oil prices on fears about the European economy, the Lundberg Survey showed. Gasoline prices have fallen rapidly, dropping 48.9 cents from a high of $3.967 on April 6, survey editor Trilby Lundberg said on Sunday. "It's an extraordinary decline less than three months," Lundberg said. "American motorists are benefiting from a lot of economic pain in Europe." Economic pessimism, coupled with healthy supplies, have depressed prices of crude oil, benefiting U.S. motorists at the pump, she said. The price was the lowest since the January 20 survey, which recorded an average of $3.39 per gallon. The national average for regular gasoline as of June 22 was also down 15 cents from the year-earlier level of $3.628 a gallon, according to the survey of some 2,500 gasoline stations in the continental United States. The average price of a gallon of diesel has fallen by nearly the same amount, down nearly 14 cents over two weeks to $3.778. Diesel fuel is also off nearly 44 cents from a peak of $4.215 on April 6, Lundberg said. The average cost for a gallon of gasoline at self-serve stations was the lowest in Jackson, Mississippi, at $3.03. San Francisco drivers paid the most per gallon at $3.95. (Reporting By Hilary Russ; Editing by Maureen Bavdek) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions