The average price of gasoline declined only a tenth of a penny per gallon over the past two weeks, but greater reductions should be expected due to a wholesale price decline, an industry analyst said Sunday.
The Los Angeles-based Lundberg Survey of gasoline stations across the country found the average price of gasoline, including all grades and taxes, was 100.56 cents a gallon, said analyst Trilby Lundberg.
"The lack of significant change in the average masks important and conflicting regional price adjustments and a continuously changing mix of abundant supplies," Lundberg said in a telephone interview from Chicago, where she was attending a meeting of the American Petroleum Institute.
"Lundberg (Survey) indicators point to larger price cuts in the next few weeks," she said.
According to the survey, prices per gallon at self-serve pumps were: regular unleaded, 92.91 cents; regular leaded, 89.81 cents, and premium unleaded, 107.18 cents.