Gas Prices Drop 8 Cents In Two Weeks, According To Survey

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High gas prices are posted at a gas station in Encino, Calif., Friday, Aug. 10, 2012. Analysts expect West Coast gas prices to rise beyond $4 a gallon after a fire knocked out a key section of one of the nation's largest oil refineries. In all, five separate investigations will be done to determine the cause and effects of the Monday night blaze at Chevron's Richmond refinery.(AP Photo/Damian Dovarganes)
High gas prices are posted at a gas station in Encino, Calif., Friday, Aug. 10, 2012. Analysts expect West Coast gas prices to rise beyond $4 a gallon after a fire knocked out a key section of one of the nation's largest oil refineries. In all, five separate investigations will be done to determine the cause and effects of the Monday night blaze at Chevron's Richmond refinery.(AP Photo/Damian Dovarganes)

NEW YORK, Oct 21 (Reuters) - The average price for a gallon of regular gasoline in the United States fell more than 8 cents during the past two weeks, weighed down by the drop in crude oil prices and low seasonal demand, according to a widely followed survey released on Sunday.

Gasoline prices averaged $3.7529 per gallon on Oct. 19, down from $3.8375 on Oct. 5, Trilby Lundberg, editor of the Lundberg Survey, said. This came after a month-long period when gas prices averaged around the $3.83 per gallon price, she added.

U.S. crude futures have dropped from September highs above $100 per barrel, contributing to the slide in gasoline prices, and last Friday, they ended at $90.14 per barrel, down more than 2 percent.

Lundberg said further declines in retail gas prices are expected if the cost of crude oil does not rise substantially. She added that in California, gasoline prices could have a "dramatic crash" after refinery problems caused a spike two weeks ago.

Average prices at the pump in California fell 2.95 cents to $4.46. Two weeks ago, drivers there were paying about $4.49.

The highest prices for regular gasoline recorded in the Oct. 19 survey were in San Francisco at $4.50 a gallon, while the drivers in Tulsa, Oklahoma, were paying the least at $3.26 per gallon. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Maureen Bavdek)

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