Gas Prices Fall Thanks To Crude Oil Drop, Lundberg Survey Finds

Good News On Gas Prices

NEW YORK, June 10 (Reuters) - The average price for a gallon of regular gasoline in the United States fell 15.9 cents to $3.624 in the past three weeks due to a drop in crude oil, which took a hit from fears over Europe's economy and a stronger dollar, the Lundberg Survey showed.

The national average for regular gasoline as of June 8 was down more than 11.62 cents from the year-earlier level of $3.74 a gallon, according to the survey of some 2,500 gasoline stations in the continental United States.

The price was the lowest since the Feb. 10 survey, which recorded an average of $3.51 per gallon.

It was the fourth straight survey to show a price decline. Prices peaked at $3.967 on April 6 and have been falling ever since, down 34.28 cents, survey editor Trilby Lundberg said.

The average price of a gallon of diesel has fallen by nearly the same amount, down 30.61 cents over the past nine weeks and 17.64 cents over the past three, to $3.9089.

Both gasoline and diesel prices are lower than a year ago.

"U.S. fuel consumers have had a significant benefit as both diesel and gasoline prices crashed. Crude oil is the cause of both," Lundberg said.

The average price of a gallon of gasoline at self-serve stations was the lowest in Jackson, Mississippi at $3.18. Seattle had the highest at $4.22, partly because of a fire at BP's Cherry Point refinery in Washington state.

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