U.S. gasoline prices slide again in past 2 weeks: Lundberg survey

Reuters

NEW YORK, Oct 20 (Reuters) - The average price for a gallonof regular gasoline in the United States slipped 2.01 cents inthe past two weeks, though the multi-week decline may soon endunless crude oil drops further, according to the Lundberg surveyreleased on Sunday.

The average price of just more than $3.36 per gallon isabout 22 cents cheaper than six weeks ago, based on the Oct. 18survey of some 2,500 retail stations in the lower 48 states,said survey editor Trilby Lundberg. Prices are 39 cents cheaperthan a year ago.

"Unless crude prices slip further from here, I think this isprobably it for the retail price decline; the pace of declinehas already greatly slowed," said Lundberg, who is based inCamarillo, California.

U.S. crude futures fell 2.9 percent over the past twoweeks. "If they fall further," Lundberg said, "that could givemore breathing room for refiners to cut prices, but right nowthey have skimpy margins for gasoline."

Albuquerque, New Mexico, had the least expensive gasoline inthe country at $3.03 per gallon, according to the survey, whiledrivers in San Francisco - often the country's priciest gasolinemarket - paid the most, at $3.81 per gallon.

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