Tuesday, 31 July 2007 00:44
Some Relief At The Pumps
Good news at the gas pumps. U.S. average retail gasoline prices
fell 17 cents per gallon as Midwest
refiners recovered from recent difficulties and produced more gas, according to
an industry analyst. The national average for self-serve, regular, unleaded gas was nearly
$2.8843 a gallon on July 27, down from the July 13 level of $3.0577,
according to the nationwide Lundberg survey of about 7,000 gas stations. Gas
prices have tumbled nearly 30 cents a gallon since reaching an all-time U.S. high
average on May 18 of $3.1827. "It's
unlikely we'll see a large drop again in average pump prices in the near
future," Trilby Lundberg said. Crude oil prices are rising and the
summer driving season still has a month to go, both of which should prevent gas
prices from falling much further, Lundberg said. At $3.29 a gallon, Chicago had the highest
average price for self-serve regular unleaded gas, while the lowest average
price was $2.65 a gallon in Cleveland, Ohio.