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Gasoline prices drop again in latest survey
March 9, 1997
Web posted at: 9:25 p.m. EST (0225 GMT)
LOS ANGELES (CNN) -- Gasoline prices fell nearly a penny a gallon nationally over the past two weeks, continuing a two-month downward trend, according to the Lundberg survey of 10,000 gas stations conducted Friday.
The overall price nationally for all grades of gasoline, sold both at full-service and self-serve pumps, was an average 128.36 cents a gallon. That's down nearly 1 cent from the last survey two weeks ago.
The average price for the most popular type of gasoline, regular unleaded sold at self-serve pumps, was 123.07 cents a gallon, which was 0.97 cents lower than two weeks before.
The decline marks the continuation of a drop that began in mid-January. The average price has dropped about 2 1/2 cents since then. Two main reasons for the recent decline are lower crude oil prices and seasonally lower demand for gasoline, according to Lundberg Survey editor Trilby Lundberg.
Despite the decline, gasoline prices are higher than they were a year ago, when crude oil prices were even lower. The average price at the pump was 121.24 a year ago.
Related stories:
- Gasoline prices hold steady - January 26, 1997
- Gasoline prices rise slightly in survey - January 12, 1997
- Survey finds gas prices unchanged - December 8, 1996
Related sites:
Note: Pages will open in a new browser window- Facts About Gasoline Prices - American Petroleum Institute
- Energy Information Administration Petroleum Page
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