Gas prices lower again

Print
Email
|

WVEC.com

Posted on May 7, 2012 at 6:00 AM

Updated Monday, May 7 at 6:18 AM

CAMARILLO, Calif. (AP) -- The average price of a gallon of gasoline nationwide has dropped seven cents over the past two weeks, according to the Lundberg Survey of fuel prices, which puts the price of a gallon of regular at $3.85.

Midgrade costs an average of $4.00 a gallon, and premium is at $4.12.

Diesel dropped three cents to $4.15 a gallon.

Of the cities surveyed, Tulsa, Okla., has the nation's lowest average price for gas at $3.40. Chicago has the highest at $4.32.

Average retail gasoline prices in Hampton Roads have fallen 6.9 cents per gallon in the past week, averaging $3.65/gallon Sunday.

"It's great news for motorists, but some West Coast hot spots may burn motorists before they see any sizable relief. Supply has dropped considerably, causing tightness and perhaps higher prices. The rest of the country, however, should see short term relief continue ahead of Memorial Day, easing unfounded fears of the national average hitting $5/gal, or even $4/gal," GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said.

Print
Email
|