Gas prices crashing: National gas prices should drop even more in the coming days

Gas prices have gone up for 31 straight days according to AAA and economists say it doesn't look like prices will be decreasing any time soon.
Photographer: Justin Sullivan/Getty Images
Copyright Getty Images

advertisement

Posted: 12/10/2012

Gas prices have plummeted 46 cents a gallon over the past two months, according to a survey released Sunday.

"This has been a true price crash," said Trilby Lundberg, publisher of the Lundberg Survey.

The average price of a gallon of regular gasoline is $3.38, down nearly a dime over the past three weeks, Lundberg said.

"This crash began back when refining problems around the country were being fixed, one after the other, at the same time that our seasonal gasoline demand was shrinking," she said.

Crude oil prices have also dropped after having risen steadily.

Prices at the pump should drop even more in the coming days, as refiners cut how much they're charging distributors and retailers, Lundberg said.

The national average is about 8 cents higher than the average a year ago.

The survey tallies prices at thousands of gas stations nationwide.

Long Island, New York, had the highest average in the latest survey, at $3.85. The lowest average was in Memphis, Tennessee, at $3.04.

Here are average prices in some other cities:

• Boston - $3.59

• Baltimore - $3.34

• Atlanta - $3.27

• Baton Rouge, Louisiana• - $3.11

• St. Louis - $3.05

• Salt Lake City - $3.40

• Los Angeles - $3.68

  • Comments

Featured Stories


  1. Latest mugshots: Palm Beach County

    Latest mugshots: Palm Beach County

    Click here to see the latest mugshots in Palm Beach County

    • Latest mugshots: St. Lucie County

      Latest mugshots: St. Lucie County

      Click here to see the latest mugshots in St. Lucie County.

      • PHOTOS: Celebrities who died too young

        PHOTOS: Celebrities who died too young

        Celebrities who died too young include Whitney, Kurt Cobain, Amy Winehouse, Tupac, and Phil Hartman.

        Advertisement
        • What's Trending Now...
         

        Latest News Stories


        • Stay Connected