Gas prices down a penny per gallon

LOS ANGELES, California (CNN) -- The average price of a gallon of self-serve regular gas dropped a penny during the past three weeks, to $1.45, the Lundberg Survey reported Sunday.

The drop continues an 11-week downward trend in the price of gas, said Trilby Lundberg, whose newsletter surveys prices at more than 10,000 gas stations nationwide.

Since October 20, when a gallon of self-serve regular cost $1.57, the price has dropped about 12 cents.

The latest survey took place January 5.

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Lundberg credited lower crude oil prices and lower gasoline demand -- typical during winter months -- for the drop.

Prices bottomed out in Cheyenne, Wyoming, at $1.23, and topped off in Honolulu, Hawaii, at $1.92.

Here are average prices for a gallon of self-serve regular in a few U.S. cities:

  •  Dallas: $1.35

  •  Chicago: $1.58

  •  Los Angeles: $1.52

  •  San Francisco: $1.77

  •  St. Louis: $1.29

  •  Atlanta: $1.23

  •  Miami: $1.46

  •  Boston: $1.56

  •  Detroit: $1.47

The price slide may not continue. On January 17, the members of the Organization of Petroleum Exporting Countries plan to meet in Vienna, Austria.

"There's talk that prior to the 17th, there might be a production cut, which would shore up crude oil prices," Lundberg said.

Priming the pump

Survey finds gas prices down by roughly a penny
November 6, 2000
Survey: Gas prices drop 3 cents in 2 weeks
October 9, 2000
Gas prices up nearly 2 cents, ending 9-week decline
August 28, 2000
Gasoline prices drop four cents in two weeks
March 24, 2000
Senate rejects gas tax repeal
March 11, 2000

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