.S. gasoline prices have dipped another 6 cents due to a continuing skid in crude oil, a new survey finds, with more declines seen on the horizon.
The average price of regular gasoline dropped to just over $3.78 per gallon over the past two weeks, according to the latest Lundberg Survey. That's down more than 12 cents from a year ago and more than 18 cents below its April 6 peak, survey publisher Trilby Lundberg told CNN.
"The cause is continued erosion of crude-oil prices," Lundberg said. With crude oil currently trading at about $91 a barrel, down 11% in a month, "We will see another 5-10 cents in the coming weeks," she said.
Lundberg's California-based company samples prices in about 2,500 filling stations across the continental United States. The latest, conducted Friday, found prices were still hight in the Western states - "but those prices are just trembling on a precipice," she said.
"We can see wholesale prices have been crashing here, and they are about to hit the street," she said.FULL STORY