Gas Price Slide Comes To Screeching Halt


gasThe two-month drop in gasoline prices across the country has stopped, according to a survey published Sunday. The average price of a gallon of regular gasoline is $3.62, down just a penny over the past two weeks, the Lundberg survey found.

The price is a 38-cent drop from the beginning of May, when the average topped off at $4 a gallon.

“Further dramatic drops probably aren’t in the cards,” publisher Trilby Lundberg said.

Crude oil prices bounced back up $5 per barrel during the same period, she said. If oil prices stay “more or less steady, gasoline prices will be too,” she said.

Although the United States is in the middle of peak demand season, demand is weak, Lundberg said — a result of the economy, with fewer people taking driving vacations and the unemployed having no jobs to drive to and from each day.

The Lundberg Survey tabulates average prices at thousands of stations across the country.

The city with the highest average price found in the latest survey was Chicago, at $4.03 a gallon. The lowest was Phoenix, at $3.30.

Here are prices in some other cities:

Boston – $3.72
Philadelphia – $3.66
Atlanta – $3.58
Memphis, Tennessee – $3.42
St. Louis – $3.57
Albuquerque, New Mexico – $3.37
Denver – $3.42
San Diego – $3.72

{Cable News Network/ Newscenter}


  1. She doesn’t know what she’s talking about! When gas prices were hitting $4, she predicted it would go up to $5! She also said gas prices would not go below $4 during the summer driving season. I can’t understand why everyone uses her as the go to source?! Just an opportunist dummy!

  2. obama released oil reserves recently assuming that the oil price freefall would continue, and he would gain credit for what he did. instead, prices have stablized and what he did is seen as pointles and maybe damaging.
    he did this alredy with the stimulous package. assuming the economy was on its way to recovery, he stuck tons of wasteful spending into his so called stimulous so that when the economy improves he’ll credit the social spending as the reason for the improvement.

    sorry obama these tricks don’t work. there is a subject called economics, something you know nothing about.