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Gasoline prices continue to fall
Nationwide average for gallon of regular at $3.78
Updated: Monday, 21 May 2012, 6:28 AM EDT
Published : Monday, 21 May 2012, 6:28 AM EDT
CAMARILLO, Calif. (AP) — The latest Lundberg Survey finds gasoline prices have dropped six cents over the past two weeks, putting the nationwide average for a gallon of regular at $3.78.
Analyst Trilby Lundberg says falling crude oil prices are leading the decline. The near-month contract for the benchmark grade fell more than $1 Friday, closing at $91.48 a barrel on the New York Mercantile Exchange. Lundberg says if crude prices stay in that neighborhood, gas prices could come down another 5 to 10 cents.
Of the cities surveyed, Memphis, Tenn., has the nation's lowest average price at $3.34 for regular. San Francisco has the highest at $4.36.
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