Price of Gasoline Drops Slightly in August

Price of Gasoline Drops Slightly in AugustA national survey conducted on September 5 by Lundberg Survey, Inc reveals that the average price of regular gasoline has dipped 2 cents for one gallon in the past couple of weeks to $3.46. This decline has resulted in the fall of prices of gasoline by 25 cents in the past eleven weeks. That's definitely good news for regular commuters.

On Sunday Trilby Lundberg an industry analyst said that the drop in gasoline prices was a result of declining rates of crude oil. However the drop in prices was modest than what was seen earlier during the summer months. Lundberg says that in case the prices of crude oil do not increase then the oil prices may drop even more. This would simply happen because the refiners would shift to winter-grade gasoline in coming months which requires lesser production cost.

The highest price of gasoline in the nation was noted in San Francisco, CA which was recorded as $3.88 for a gallon. The lowest price was noted in Baton Rouge, LA where gasoline is being sold at approximately $3.11 per gallon on an average.