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Gas prices hit $4 per gallon average across U.S.

Reuters [1]
May 9, 2011

The average price for a gallon of gasoline in the United States rose 11.98 cents in the past two weeks, but last week’s fall in crude oil prices may signal lower costs to come, an industry analyst said on Sunday.

The national average for self-serve, regular unleaded gas was $4 per gallon on May 6, up 11.98 cents from April 22, according to the nationwide Lundberg Survey.

This was still below the all-time high of $4.11 on July, 11, 2008, and last week’s fall in crude oil prices may lead to a 8- to 12-cent drop in prices at the pump over the next few weeks, according to Trilby Lundberg, the survey’s editor.

“If the current oil price stays, gas prices will slide,” Lundberg said, adding that gas prices had peaked around May 4, prior to a $12.06 drop in crude oil prices between May 4 and May 6.

Full article here [1]

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