NEW YORK Aug 24 The average retail price of a
gallon of gasoline in the United States declined in the past
two weeks, extending a fall from a record high in July,
according to the latest nationwide Lundberg survey on Sunday.
The national average price for self-serve, regular unleaded
gas was $3.6967 a gallon on Aug. 22, down about 15.05 cents per
gallon in the past two weeks. It was also down 41.57 cents from
a record high of $4.1124 in a July 11, survey.
Survey editor Trilby Lundberg said the latest decline did
not come from a fall in crude oil prices, but instead from
weaker gasoline demand and slimmer profit margins for both
refiners and, to a lesser degree, gasoline retailers.
At $3.37 a gallon, St. Louis, Missouri, had the lowest
average price for self-serve, regular unleaded gas, while the
highest price was $4.34 a gallon in Anchorage, Alaska, the
survey said. In Los Angeles, the biggest U.S. gasoline market,
the average price was $3.92.
If crude oil prices do not trend upward, gasoline pump
prices would likely fall further, Lundberg said, adding that
there was usually a seasonal demand drop in demand after
Lundberg noted recent volatility in crude oil prices, and
said a shaky U.S. dollar as well as uncertainty over Russia's
regional energy supply control was keeping the market at
(Reporting by Ritsuko Ando, editing by Maureen Bavdek)