Analyst: Gas prices dip to US average of $2.20 per gallon

gas pump pic

CAMARILLO, Calif. (AP) — The average price of regular grade gasoline has fallen nationally to $2.20 per gallon, a drop of 6 cents over the past two weeks.

Industry analyst Trilby Lundberg updated the figures Sunday, predicting that prices would continue inching down unless a meeting of oil-producing nations later this month culminates in “a credible agreement to freeze or reduce” production.

A seasonal weakness in demand was one reason behind the early-November decline. Lundberg cited another influence: With autumn maintenance projects wrapping up, U.S. refiners are increasing supplies.

Those factors combined to create the drop in average prices, despite a small rise in crude oil prices.

Gas in San Diego was most expensive in the continental U.S., at $2.73 on average. The low average was in Tulsa, Oklahoma, at $1.78 per gallon.

KRQE.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s