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MARKET SAVVY

Global Woes Dampen Gas Prices

October 27, 1998|From Associated Press

CAMARILLO — A weak global economy and low crude oil prices are keeping gasoline costs in check, with pump prices down a third of a cent to an average of about $1.09 per gallon, an industry analyst said.

As of Friday, the average price for gasoline, including all grades and taxes, was $1.0945, compared with $1.0974 two weeks earlier, Trilby Lundberg said.

At self-service pumps, regular gasoline was $1.0366 per gallon, mid-grade was $1.1431 and premium was $1.2281. At full-service pumps, regular was $1.4650, mid-grade was $1.5527 and premium was $1.6261.

"The suffering world economy is the reason," Lundberg said. "Global crude oil prices are weaker due to poor demand."

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