Gas Prices Plummet In Bay Area, Nationwide; Down 46 Cents Per Gallon Since May
(CBS SF) -- The latest survey of gas prices show the average price per gallon has dropped to its lowest point in nearly a year, and some Bay Area stations have dropped nearly 30 cents since last week.
The Lundberg survey of gas prices shows the average of a gallon of gas nationwide is down about 12 cents in the past three weeks, driven by falling oil prices. The survey released Sunday is based on data from some 2,500 gas stations around the country.
One station in the East Bay had its lowest-priced gas for $3.69 on Friday, and $3.41 on Tuesday.
As usual, the highest average price for gasoline in the nation was in San Francisco at $3.66 a gallon. The lowest average price was in Tusla, Oklahoma at $2.93 a gallon.
According to survey publisher Trilby Lundberg, the price of a gallon of gas is down 46.5 cents from its peak on May 2, with prices falling for the past 16 weeks in a row.
Crude oil prices have plummeted to four-year lows within the last weeks amid weakening demand concerns about the strength of global economic growth.
