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Pump gas prices fall as crude oil rises

Pump gas prices fall as crude oil rises
(BDCi) – Gas prices have fallen over the past two weeks, continuing their slide despite an increase in crude oil prices, according to a survey published Sunday.

The average price of regular gasoline is $3.29 a gallon, the Lundberg Survey found.

That’s down nine cents from two week earlier, and down a total of 18 cents over the past six weeks, said publisher Trilby Lundberg.

While crude oil prices rose $3.55 a barrel over the past two weeks, gas prices fell due to American motorists’ demand for gas shrinking amid hard economic times.

It is unlikely gas prices will continue to fall because retailers and refiners will not be able to sustain losses forever.

The city with the lowest average price of gas was Albuquerque, New Mexico at $2.84 and the highest average was in San Francisco, at $3.67.

By: Natania Levine Courtesy: Photo: 5 December 2011

11:18 a.m P.S.T

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