U.S. Gasoline Falls 5.39c to $2.4076/Gal in Lundberg Survey 2017-05-07 17:04:30.226 GMT
By Sarah Ponczek
(Bloomberg) -- Avg price for regular gasoline at U.S. pumps falls 5.39c to $2.4076/gal, according to Lundberg Survey Inc.
* Survey by Camarillo, Calif.-based co. conducted May 5, based on information collected at 2,500 filling stations
* Price is 14.08c higher than same survey period a year earlier
* Highest avg U.S. retail price: $3.02/gal in San Francisco bay area
* Lowest avg U.S. retail price: $2.02/gal in Tulsa, Okla.
* Long Island, N.Y.: $2.47/gal
* Los Angeles: $2.95/gal
* Houston: $2.24/gal
* “Retail prices fell mostly because of substantial drops in crude oil prices and secondarily because of bountiful supplies of gasoline in the U.S,” Trilby Lundberg, president of Lundberg Survey, says in phone interview
* “I’m not expecting a rise at the pump and in fact a further drop seems more likely”
* “This year’s commonly expected pump price run up seems to be both weak and brief”