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Gas prices screech to a halt

Gas prices screech to a halt
Monday, September 24, 2012 - 7:21pm

After rising for seven weeks, gas prices nationwide have come to a virtual standstill, according to a survey published Sunday.

The average price of regular gasoline is $3.83 a gallon, down a fraction of a cent from two weeks ago, the Lundberg Survey found.

From late July to early September, the price had jumped 33 cents a gallon, according to the survey.

The changes have mostly stemmed from crude oil prices, which have seen a decline in recent days, said publisher Trilby Lundberg.

"If oil prices stay where they are now, then there will be further pass-through to refiners, marketers, and retailers," dropping prices at the pump five to 10 cents, she said.

Also, Saudi Arabia "seems to be positioning itself to increase supply," and demand around the world is weakening -- two factors that could help prices drop, Lundberg said.

The survey tabulates prices at thousands of gas stations nationwide.

The city with the lowest average price in the latest survey, taken September 21, was Jackson, Mississippi, at $3.52 The highest was Chicago, with an average of $4.25.

Here are prices in some other cities:

Boston - $3.91

Baltimore - $3.73

Houston - $3.61

Billings, Montana - $3.68

Denver - $3.71

Las Vegas - $3.69

San Diego - $4.10
 

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