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U.S. Retail Gasoline Prices Fall

NEW YORK -- U.S. average retail gasoline prices fell more than 10 cents per gallon over the last two weeks due to more abundant crude oil supplies and lower oil prices, according to an industry analyst.

The national average for self-serve regular unleaded gas was just below $1.83 per gallon in the two weeks surveyed through Dec. 17, down 10.39 cents since Dec. 3, according to the nationwide Lundberg survey of about 7,000 gas stations.

"Prices have been falling since Oct. 22, with the accumulated drop exceeding 21 cents per gallon in these past eight weeks," said survey editor Trilby Lundberg.

The average price remains nearly 35 cents per gallon above the year-ago level, according to the survey.
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