October 10, 1999
Web posted at: 10:07 AM EDT (1407 GMT)

LOS ANGELES (CNN) -- For the first time in five months, the average cost of a gallon of gasoline in the United States fell during the past two weeks, according to a survey of prices at more than 10,000 gas stations from coast to coast.

The Lundberg Survey found that the average per-gallon price for all grades of gasoline fell 0.53 cents, to just under $1.33. Self-service regular prices fell 0.40 cents to just under $1.28 per gallon.

Gasoline prices had been on a steady rise since early June, increasing by more than 14 cents per gallon.

Trilby Lundberg, publisher of the survey, said the main cause for the recent drop in prices is a decrease in the price of oil, which has dropped nearly $4 a barrel during the past two weeks. Lundberg attributed the drop in price to poor compliance among OPEC nations that have set self-imposed production goals.

"The speculation from some traders is that, with higher prices, it's too hard to resist increased production," Lundberg said.