Gas Prices Continue to Their Downward Slide
Daniel Acker/Bloomberg via Getty Images
By Luciana Lopez

NEW YORK -- The average price of a gallon of gasoline fell 6 cents in the past two weeks as crude prices have continued a broad decline, according to the Lundberg survey released on Sunday.

Prices fell to an average of $3.52 per gallon for regular grade gasoline, according to the survey conducted Aug. 8. That extends a decline in prices to seven weeks, survey publisher Trilby Lundberg said.

"It is lower crude oil prices that bring this lower pump price," Lundberg said. "Crude oil is the overwhelmingly most important factor both in the price of gasoline and in directional price move."

The average price for gasoline is now about 8 cents lower than a year ago.

The San Francisco Bay area had the highest price within the survey area at $3.95 a gallon for regular while the lowest price was in Jackson, Mississippi, where regular grade cost $3.19 a gallon.


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77 Comments

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fakeconomics01

Google -- VW 260 mpg car

August 12 2014 at 3:54 AM Report abuse -1 rate up rate down Reply
1 reply to fakeconomics01's comment
dembaitnswitch

Google Donkey.

August 12 2014 at 4:18 AM Report abuse rate up rate down Reply
fakeconomics01

http://www.spacedaily.com/reports/Hybrid_Vehicles_More_Fuel_Efficient_In_India_China_Than_in_US_999.html

August 12 2014 at 3:53 AM Report abuse -1 rate up rate down Reply
fakeconomics01

Now several countries are finding shale gas and oil by fracking -- AND -- China. India and many developing countries are going for all hybrid and electric vehicles so I see big changes are ahead in the horizon.

August 12 2014 at 3:39 AM Report abuse -1 rate up rate down Reply
1 reply to fakeconomics01's comment
dembaitnswitch

Opium, Marijuana, or Hashish?

August 12 2014 at 4:16 AM Report abuse rate up rate down Reply
jacobsgold

I just paid $3.10 with an average of $3.15. in Central Jersey. Even better we don't pump our own gas because were too stupid. lol So were just have to sit in own AC and suffer.

August 12 2014 at 12:17 AM Report abuse +1 rate up rate down Reply
searune

We need to vote both parties out. Neither give a crap about the middle class.

August 11 2014 at 11:18 PM Report abuse +1 rate up rate down Reply
1 reply to searune's comment
gee.effwye

Yeah searune.....can't you tell? They've done soooo much.
1,000 things but a tax rate cut isn't one of them. Democrats don't do that.

August 12 2014 at 7:13 AM Report abuse rate up rate down Reply
jigokurei

You think Prices are Dropping? You're about to get a rude awakening come January 1, 2015.

There is a new California state cap and trade tax initiative about to take effect that will cost Californians a conservative estimate of $.15 to $.20 cents MORE per gallon of gasoline; it is called Assembly Bill 69 or (AB 69).

At the root of the AB 69 bill is the plan to raise billions of dollars to fund the already defunct California high-speed rail project. But further review of the bill shows a more realistic tax rate estimate costing Californians as much as $.50 to $.75 cents per gallon.

If you are already Fed Up at the Pump with high prices, I suggest you sign the petition below notifying your state legislators your disapproval of AB 69; that Californians have not yet gotten over the financial and economic shell-shock to take on yet another one.

Fed Up At The Pump.org
http://www.fedupatthepump.org/

August 11 2014 at 9:35 PM Report abuse -1 rate up rate down Reply
1 reply to jigokurei's comment
trew.liberal1

But this is not truly an increase in gas prices.

Rather, it's an increase in government goons violent confiscation of the fruits of citizens labor.

August 11 2014 at 9:46 PM Report abuse rate up rate down Reply
1 reply to trew.liberal1's comment
gee.effwye

Yes....it's a tax increase......on all you dumb mothereffers that voted these people into office.

Enjoy.

August 11 2014 at 9:56 PM Report abuse -1 rate up rate down
Ron

Whoopi! Gas WAS $1.65 when Obama won and America lost! The true story should read: Gas is 100% higher and has remains for 6 years!
Source: Google: Gas Price, Dec 2008, CNN

August 11 2014 at 8:19 PM Report abuse rate up rate down Reply
1 reply to Ron's comment
Frankie

Ron, you're one smart cookie! Since when do Presidents control gas prices? You MUST be a republican...a know nothing.

August 11 2014 at 10:25 PM Report abuse rate up rate down Reply
1 reply to Frankie's comment
gee.effwye

Since 2001 it looks like francis. All.you dumb progressives blamed bush and cheney when they were in office.....read on fran.

August 11 2014 at 11:19 PM Report abuse rate up rate down
pm0501

All gas station managers monitor Gas Buddy 24/7. As soon as Speedway jacks up their prices, they all do!

August 11 2014 at 6:57 PM Report abuse rate up rate down Reply
1 reply to pm0501's comment
trew.liberal1

Or down.

August 11 2014 at 7:39 PM Report abuse -2 rate up rate down Reply
pm0501

As soon as a story like this hits the web..... gas prices spike as much as .25 a gallon! Nice move AOL!

August 11 2014 at 6:56 PM Report abuse rate up rate down Reply
1 reply to pm0501's comment
trew.liberal1

DF wrote nearly the exact same story two weeks ago (excepting that prices had declined even more in the preceeding two weeks). And then prices went down further.

Keep trying. Eventually you'll figure SOMETHING out (well, maybe).

August 11 2014 at 7:41 PM Report abuse -1 rate up rate down Reply
unitedpaintings

It's a welcome sight no matter what the drop is.

August 11 2014 at 4:59 PM Report abuse rate up rate down Reply