Updated:
11/22/2010 10:00:00 AM
Falling Oil Prices Could Lower Weekly Average
Gasoline’s national average price rose by almost a nickel in the past two weeks to $2.87 a gallon, according to the latest Lundberg Survey of filling stations.
That price was slightly lower than last week’s Department of Energy weekly survey, which showed a $2.892 average. (Click here for previous story.)
Mid-grade and premium each rose 4 cents, to $3.01 and $3.12 per gallon, respectively, according to the twice-monthly survey that was released Sunday.
Among cities surveyed, San Francisco had the highest regular-grade average at $3.20 gallon, while Denver was the lowest, at $2.63.
Oil prices fell more than $6 from Nov. 10 through Friday, when crude futures closed at $81.51 a barrel on the New York Mercantile Exchange, Bloomberg figures showed.
That could lower retail pump prices in this week’s Department of Energy weekly survey, to be released Monday afternoon in Washington.
Diesel’s U.S. retail average hit a two-year high last week, posting a 6.8-cent gain to $3.184 a gallon. (Click here for previous story.)
© 2010, Transport Topics Publishing Group. All rights reserved.
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