Gas Prices Drop a Nickel to $2.59

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Gas Prices Drop a Nickel to $2.59

NEW YORK -- The nationwide average price of regular gasoline at U.S. retail fueling stations slipped more than five cents to $2.59 a gallon in the past three weeks, on increased supplies and falling demand at the close of the summer driving season, Bloomberg News reported.

"Demand is poor," survey author Trilby Lundberg said in an interview with Bloomberg News. "The number of those who do not have jobs continues to rise."

Gas prices lost 5.06 cents in the three weeks ended Sept. 11, according to a survey of 5,000 gas stations nationwide, the report stated.

Motor-fuel inventories rose 2.07 million barrels last week to 207.2 million, more than 6 percent above year-ago revised figures, according to the Energy Department.

The highest average price for self-serve regular gas was $3.27 a gallon in Anchorage, the Lundberg report said. The lowest was in St. Louis, at $2.26 a gallon.

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