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Gas prices continue to fall

graphic January 25, 1998
Web posted at: 11:40 p.m. EST (0440 GMT)

LOS ANGELES (CNN) -- Gasoline prices continued a five-month slide as the average cost fell nearly 3 cents a gallon during the last two weeks, according to a survey of 10,000 gas stations across the United States.

Lower crude oil prices and an oversupply of gasoline -- helped by a mild winter -- combined to push gas prices downward, according to Trilby Lundberg, editor of the Lundberg Survey.

A weighted average of all grades of gasoline, including self-serve and full-serve, was $1.1557 a gallon, according to the survey conducted January 23. That's 2.7 cents less than when the survey was done two weeks earlier on January 9.

The price of the average gallon of gas is 15 cents lower than at this same time a year ago, and it's 17 cents below the cost of a gallon of gas last Labor Day.

 
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