Downward Trend

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Downward Trend

CAMARILLO, Calif. -- Gas prices dipped an average of 1/3 a cent per gallon nationwide over the past two weeks as crude oil prices were stable despite turmoil in the Middle East, industry analyst Trilby Lundberg said.

The average price per gallon for all grades was about $1.45, compared with $1.46 two weeks earlier, according to the Lundberg Survey of 8,000 convenience stores nationwide. The per-gallon price for self-serve regular was about $1.42.

"Although the Middle East developments can spook crude oil and therefore gasoline prices at any time, prices for both are stable at the moment, and supply indicators suggest continued price stability or perhaps further price cuts at the pump for the near term," Lundberg said.

Consumers are still paying less for gas now than they were one year ago. In early May 2001, the average gas price per gallon was $1.76.

Drivers in Atlanta were paying the lowest gas prices in the nation Friday: an average of $1.23 per gallon for self-serve regular. Gas was most expensive in the San Francisco Bay area at $1.64 for self-serve regular. The national weighted average price of gasoline was about $1.42 per gallon for regular, $1.52 for mid-grade and $1.61 for premium.