Good news at the pump may have dark shadow, survey finds

The price of gas has dropped over the past month but remains 65 cents higher than it was a year ago.

Story highlights

  • Gas prices have dropped 25 cents in the past month, Lundberg Survey finds
  • Crude oil prices are the biggest reason
  • Publisher links low demand to unemployment
  • The price is 65 cents higher than it was a year ago
Gas prices have dropped substantially, following a drop in crude oil prices, according to a survey published Sunday.
The average price of a gallon of self-serve regular is $3.42, the Lundberg Survey found.
That's down more than 12 cents over the past two weeks, and down 25 cents in the past month, the survey found.
"This is the rest of the crude oil price reductions of prior days," said publisher Trilby Lundberg, "plus the downward pull on gasoline prices from our September gasoline demand falling below demand of the prior September." Gasoline demand remains low largely because of unemployment and underemployment, she said.
Crude oil prices edged up at the end of last week, Lundberg noted. "It does suggest that this may be it for the decline."
The price is 65 cents higher than it was a year ago.
The Lundberg Survey tallies prices at thousands of gas stations nationwide.
The city with the lowest average gas price found in the latest survey, conducted Friday, was Albuquerque, New Mexico, at $3.07. The city with the highest average was San Francisco, at $3.81.
Average prices in some other cities:
-Boston $3.55
-Atlanta $3.27
-Miami $3.40
-Baton Rouge, Louisiana $3.17
-Chicago $3.61
-Phoenix $3.28
-Denver $3.38