Gas Prices Dropping

Across the country, pump prices are less painful for consumers.

August 17, 2011

MODESTO, Calif. - Despite summer having a few more weeks left, gasoline prices have been declining, the Modesto Bee reports. Higher pump prices in May had consumers staying home more.

For example, California registered an average of $3.78 per gallon, according to AAA. At the Circle 7, regular unleaded cost $3.61 per gallon on Monday. But the relatively low price hasn??t boosted business.

"It's all right," said manager Harjit Singh. "But it's not like it used to be. ?? When gas prices are low, we do better." Singh noted that lower gasoline prices usually mean more in-store sales.

Economist said that the drop in gasoline prices could mean more travelers will take to the road. Driving down the cost is uncertainty about the oil market??s strength and lower demand from consumers for fuel.

On Monday, Peoria, Ariz., registered the cheapest price per gallon in the United States with an average price of $3.26, while Bridgeport, Conn., took the top spot, excluding Alaska and Hawaii, with $4.11 per gallon.

Meanwhile, the Lundberg Survey predicts that pump prices could fall another dime over the next few weeks if crude oil stays steady. "It's impossible to know what crude oil prices will do next," said Trilby Lundberg in a CNN report.

The 2011 NACS gas price kit has more information on gasoline prices.

Advertisement
Advertisement
Advertisement