Consumer Prices
AP
By Ransdell Pierson

The average price of a gallon of regular gasoline fell 4 cents during the past three weeks in reaction to declining costs of crude oil, according to the Lundberg survey released Sunday.

Prices fell to an average of $3.67 a gallon for regular grade gasoline, according to the most recent survey, which was conducted on July 11.

"Crude prices have dropped in reaction to Libya having sizably hiked its oil production, and because Iraq's oil output has not being smashed by violence and turmoil there," said Trilby Lundberg, publisher of the survey.

The price of Brent crude in the U.K. has dropped by $8.35 a barrel in the past three weeks, while the price of West Texas Intermediate crude has fallen $6.43 during the same period, Lundberg said.

About a fourth of the crude oil price decline is now reflected at the pump, but drivers could see another 4 cent to 8 cent drop in gasoline prices in the near future, as retailers pass along more of their cost savings to consumers, Lundberg said.

San Francisco had the highest price within the latest survey at $4.12 a gallon, while the lowest price was in Tulsa, where regular grade cost $3.35 a gallon.


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A New Year

It is real simple people are not traveling due to lack of employment. Who has extra money, or money period. When gas is below $2 then I'll say wow.

July 18 2014 at 7:24 PM Report abuse rate up rate down Reply
loadermanbmc

Its always obamas fault. we have a do nothng congress but its Os fault.

July 15 2014 at 12:12 PM Report abuse +1 rate up rate down Reply
Richard

Just who is paying less at the pump. The oil racketeers continue to price their product about two dollars a gallon more than it should be. This has effectively crippled our economy. Bottom line, Mr. Pen and Phone seems unable or unwilling to do anything about it and the sheeple in this country continue to elect the same no-balls loons to Congress - so we get what we get!

July 15 2014 at 10:08 AM Report abuse +4 rate up rate down Reply
nthereoff

Inflation is non exiling. Just ask the goverment? People on S S have gotten little or no raise's in the last few year because of this phenomenon. Who care? You will went you reach retierment age.

July 15 2014 at 9:24 AM Report abuse rate up rate down Reply
nthereoff

Gas is down 3 cents this week? Great ,now I can go on that vacation I always want to do. B S at it's worst.

July 15 2014 at 9:09 AM Report abuse +2 rate up rate down Reply
spuddoo

are they tired of screwing us

July 15 2014 at 9:05 AM Report abuse +1 rate up rate down Reply
chelley62

Prices are down? On what planet? When they get to below $3 a gallon then I'll think they are "down". ..... highway robbery....

July 15 2014 at 7:34 AM Report abuse +2 rate up rate down Reply
toosmart4u

Hey A New Year, we are heading for a 3rd world country because of the republican congress, they are a do nothing group of dead beats wanting to improve their party and not these United States. No tea for me.

July 15 2014 at 5:52 AM Report abuse +1 rate up rate down Reply
toosmart4u

Good job Mr. President Obama. The summer of Bush Jr.'s term gas was 4.07 per gallon and with a price tag of 4.50 factoring in inflation for todays price.

July 15 2014 at 5:49 AM Report abuse -2 rate up rate down Reply
1 reply to toosmart4u's comment
democrap2

You're saying inflation has skyrocketed under the Obama Regime?

July 15 2014 at 7:48 AM Report abuse rate up rate down Reply
souleb

Bull they were nearly 4$ before the price of oil went up this spring

July 15 2014 at 5:41 AM Report abuse +1 rate up rate down Reply