Gas Prices Drop Sharply In US

CAMARILLO, Calif. (AP) - A national survey shows gas prices tumbled 35 cents in the last two weeks, following price declines in world oil markets.

The average price of a gallon of regular gasoline at self-serve stations was $3.31 Friday. Mid-grade was at $3.45 and premium was $3.57. Diesel averaged $3.95.

That's according to the Lundberg Survey of 5,000 gas stations nationwide, released Sunday.

Gas was cheapest in Wichita, Kan., at $2.79 for a gallon of regular. It was most expensive in Honolulu at $3.91.

The California average was $3.51, down 16 cents from two weeks
ago.

The price of a barrel of crude plunged below $78 last week reflecting the pessimism of investers during the global economic crisis.
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On the Net:
Lundberg Survey: http://www.lundbergsurvey.com

(Copyright 2008 by The Associated Press. All Rights Reserved.)

AP-NY-10-12-08 1611EDT


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