Average U.S. Gas Prices Drop 25 Cents
 

http://news.yahoo.com/s/ap/20051024/...tkBHNlYwM3MTg-

CAMARILLO, Calif. - Retail gas prices across the nation fell an average of 25 cents in the past two weeks as refineries in the Gulf Coast steadily resumed production, according to a survey released Sunday.

Still, prices remained slightly higher than pre-Hurricane Katrina levels.

The weighted average price for all three grades declined to $2.69 a gallon on Oct. 21, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.

Self-serve regular averaged $2.66 a gallon nationwide. The price for midgrade was $2.76, while premium-grade hit $2.86.

The average pump price for all three grades is still 3 cents per gallon higher than before Hurricane Katrina barreled into the Gulf Coast, Lundberg said.

Several factors contributed to the recent decline, including a seasonal decrease in demand and the resumption of production at many refineries knocked off-line by hurricanes Katrina and Rita.

"The supply and demand were grossly out of balance and remain somewhat out of balance in the gas market," Lundberg said. "But that balance is normalizing as refining capacity is brought back up."

Lundberg said she expected the cost-cutting to continue in the coming weeks unless an extreme winter drives up heating oil demand and affects the price of crude oil and its derivatives.

The lowest average price in the nation for regular unleaded among the stations surveyed was $2.20 a gallon in Tulsa, Okla. The highest price was $3.01 in Honolulu.

Let's keep demand low, folks.

I've seen it well under $2.20 in KC.

I need to know when Deisel will follow.

Yeah, I noticed that they have gone down a lot since August. I still want to see gas get back under $2 a gallon, though. It was nice for a change to fill up my truck this weekend for $2.13 a gallon.

Oh yeah, that's gotta suck for you. Diesel is still around $3-$3.50 a gallon here.

Noone really believed me when I said Gas would be under $2.00 within a year.

Keep your eye on the station at 6th & Clay. They were at $2.09 recently.

I wouldn't expect it to drop as gasoline has. Not the right time of year, I'm afraid.

Diesel is closely related to #2 heating oil which is in high demand right now. Diesel prices will probably remain fairly high through the winter.

*edit* Demand for Diesel usually drops some around mid-November as most farmers and heavy construction (earthmovers etc.) crews are not working during that time. The price may fall a little then.

It's possible, but I think unlikely. I think it will bottom out right around $2.20, national retail average.

Call me when it gets down where it really needs to be....$1.40-$1.50.

Personally...I'd like to see pillaging and refinery construction until its 1.25......only long enough to develop the renewable fuels far enough to tell the Oil producing nations to Eff off.......and use US/Tejas/friendly oil for our petroleum based manufactured products.

CAN SOMEBODY GIVE ME A GOOD REASON WHY DIESEL HAS NOT DROPPED ?

OK, I had my little fit for the day, but diesel price's has major implications on my business .

Geez, I was excited when it fell to $2.79 over the weekend. Now I'm pissed. :mad:

The simple answer? Because demand for diesel is at its annual peak right now.

I got some this morning for $2.17 along my usual route.

I'm guessing that our local Wal-Mart is under $2.10 right now.