December 4th, 2011
03:17 PM ET

Gas prices double their drop

Gas prices have fallen over the past two weeks, continuing their slide despite an increase in crude oil prices, according to a survey published Sunday.

The average price of regular gasoline is $3.29 a gallon, the Lundberg Survey found.

That's down 9 cents from two weeks earlier, and down a total of 18 cents over the past six weeks, said publisher Trilby Lundberg.

While crude oil prices rose $3.55 a barrel over the past two weeks, gas prices fell due to "shrinkage in the profit margins of the downstream portion of the oil industry - that is, refiners and retailers," Lundberg said. "They were unable to pass through the higher oil prices because American motorists' demand for gasoline continues to shrink due to hard economic conditions."

However, it's unlikely prices will continue to fall, Lundberg said., because refiners and retailers "will not be able to sustain losses on and on."

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Filed under: Travel • U.S.
soundoff (42 Responses)
  1. Pedro Sanchez .

    I Believe , even if gas prices Drops, New Mechanism of safe energy must keep up drading their smart inventions , to protect our self and furture generations .

    December 4, 2011 at 11:10 pm | Report abuse |
  2. banasy©

    Yeah, but you *planned* it that

    December 4, 2011 at 11:34 pm | Report abuse |
  3. bobcat (in a hat)

    It was truly a miracle. When we'd get done sparking, it seems the gas gremlin always put a little back in the tank.

    December 4, 2011 at 11:38 pm | Report abuse |
  4. banasy©

    Speaking of Gremlins, that was truly a car...along with the Pacer and the Javelin...what the hell was wrong with American Motors, anyway?

    December 4, 2011 at 11:54 pm | Report abuse |
  5. bobcat (in a hat)

    You couldn't stop those cars. The Javelin was very stylish. It seems like when they switched from Rambler to American Motors, the whole thing just fell apart. The old Nash Rambler, now there was a car.
    Reminds me of the old song, "Beep Beep"

    December 5, 2011 at 12:05 am | Report abuse |
  6. banasy©

    I learned to drive on a 1963 Olds 98. It was my friends car. Learned at 13. Then got my liscense in a 72 Maverick. That car could haul ass! Nothing like putting a v-8 in a bitty car...lmao!

    December 5, 2011 at 12:31 am | Report abuse |
  7. ronvan

    Don't hold your breath, this is like playing dice. Every time you rolll the numbers change. Right now here in Columbus GA. I am seeing gas at $3.08. I have my camera with me and will take a picture IF it hits $2.00 because I don't think it will last! LOL. Car companies have had for years the ability to get cars MPG way up! However, the oil companies do not want to here that.

    December 5, 2011 at 9:07 am | Report abuse |
  8. the real fake azz s kel

    out side of DC its 3.19 cross the border in DC its 3.29 how stupid lol.

    December 5, 2011 at 9:35 am | Report abuse |
  9. bobcat (in a hat)

    I bet that Barack Obama must be grinning hs head off over this piece of news. But then again, we did take over Libya two months ago and now own it along with Iraq. So this news should not surprise anyone too much!!!

    December 5, 2011 at 11:42 am | Report abuse |
    • George Patton

      Good posting, bobcat. Since Rep. Ron Paul won't be nominated next year, no matter who wins the 2012 presidential elections, America will lose bigtime!!!

      December 5, 2011 at 11:53 am | Report abuse |
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