Fuel Holds Steady

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Fuel Holds Steady

08/12/2002
CAMARILLO, Calif. -- Gasoline prices declined nationally by less than a penny a gallon over the past two weeks despite strong consumer demand, according to the Lundberg Survey of 8,000 convenience stores.

"The continued adequacy of gasoline supply and very little change in the cost of crude oil gives us this relative price stability," analyst Trilby Lundberg said.

Prices at the pump have fluctuated by only 2.5 cents since April, she said.

Despite increased summer driving demand, supplies remained plentiful during the two-week survey period that ended Aug. 9, she added.

Nationwide, the price of gas at the pump averaged about $1.45 per gallon on Friday, according to the survey. That was down less than a penny over the past two weeks. The average has remained relatively steady since peaking at $1.46 in early April, Lundberg said.

The national average price of gasoline, including taxes, at self-serve pumps was about $1.42 per gallon for regular, $1.52 for mid-grade and $1.61 for premium.