Survey: Gas Cost Drops by 23 Cents

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Survey: Gas Cost Drops by 23 Cents

CAMARILLO, Calif. -- Retail gas prices plunged an average of 23 cents nationwide in the past two weeks, marking a return to pre-Hurricane Katrina levels, according to a Lundberg survey, reported the Associated Press.

The weighted average price for all three grades declined to $2.45 per gallon on Friday, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.

Self-serve regular averaged $2.43 per gallon nationwide. The price for midgrade was $2.53, while premium-grade hit $2.63.

The average pump price for all three grades on Aug. 29, the day Katrina made landfall on the GulfCoast, was $2.65, according to the Lundberg Survey.

The lowest average price in the nation for regular unleaded among the stations surveyed was $2.06 per gallon in Tulsa, Okla. The highest was $2.74 in Miami, according to the report.