- THE MAGAZINE
Between Oct. 22 and Nov. 5, the combined national average price for all grades of gasoline dropped to $2.04, down 2.6 cents from the previous two weeks, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations across the country.
The biggest seller, self-serve regular, had an average national price of $2.01 per gallon, down 3 cents. Mid-grade was $2.11 a gallon, down 12 cents, while premium was $2.21 per gallon, down 7 cents.
Of the cities surveyed, San Diego again led the nation in pump prices, with the average price for a gallon of self-serve regular at $2.40. The lowest was Tulsa, Okla., where the average price for self-serve regular was $1.74.
Lundberg said the drop in prices could be attributed to an increased supply of crude oil. She said OPEC nations increased production after crude oil spiked to $55 per barrel several weeks ago, while production off Florida's Gulf Coast had recovered somewhat after a series of devastating hurricanes. "The most likely prospect for prices is further cuts," Lundberg said.