Gas prices keep falling
 |
Story Tools
| FACT BOX |
Albuquerque, NM: $1.40
Atlanta, GA: $1.33
Boston, MA: $1.53
Houston, TX: $1.37
Las Vegas, NV: $1.64
Los Angeles, CA: $1.68
St. Louis, MO: $1.52
|
|
CAMARILLO, California (CNN) -- Gas prices continue their free fall just in time for the summer travel season, according to survey results released Sunday.
Prices dipped nearly two cents in the past three weeks, to a national average of $1.51, the survey found.
The results mark the 11th straight week of price cuts, said Trilby Lundberg, publisher of the Lundberg Survey, which tallies prices at about 7,000 gas stations nationwide.
But during the survey period, the rate of decline slowed and crude oil prices have risen about $2 per barrel -- equivalent to about a nickel per gallon, she said.
Lundberg says higher prices may return as the summer peak driving season is just beginning, supplies from Iraq have not resumed and the Organization of Petroleum Exporting Countries has given no indication that it will boost production
"I'm expecting a bottoming out in gas prices and for a rise to ensue," she told CNN. "I'm already seeing spotty rises here and there."
Prices were lowest in Charleston, South Carolina, where drivers paid $1.29 per gallon of self-serve regular, and highest in Honolulu, where a gallon cost $1.95.
