Psst! Filling Up Tank Costing Less at Pump Survey on Gas Prices Shows It's No Fluke
Gas prices have dropped an average of 9 1/2 cents in the past two weeks as available supplies continue to grow, a new survey indicates.
The average price of gasoline Friday, including all grades and taxes, was $1.63, down 9.46 cents per gallon since June 8, according to the Lundberg Survey of 8,000 stations nationwide.
A report by AAA reinforced other studies that have shown prices peaked around Memorial Day. The Heathrow, Fla.-based automotive association reported the average price of unleaded regular gas in Jacksonville dropped from $1.647 on May 16 to $1.607 on June 13. Mid-grade gas dropped from $1.745 in May to $1.711 in June, while premium unleaded gas dropped from $1.845 to $1.807.
Prices have dropped since then. Regular unleaded was selling for $1.53 yesterday at an Amoco station at 7220 Normandy Blvd., said attendant Amos Eaton. Mid-grade gas was selling for $1.64, and premium was selling at $1.74 a gallon.
Eaton said customers haven't noticed the decline and still complain about the inflation.
Prices have dropped nationally 13 cents this month alone, and the market suggests further declines are a "strong possibility," analyst Trilby Lundberg said Sunday.
Prices declined nationwide, but fell most sharply in the Midwest, which saw a 21-cents-a-gallon drop.
Lundberg said prices are falling in part because gasoline supplies and refining capacity are rising, though demand tends to be strong during the summer as people drive to their vacation destinations.
The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1. …