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Gas prices fall for the first time this year Lundberg survey says

by Steve Ragan - Apr 22 2012, 16:30

Gas prices fall for the first time this year Lundberg survey says. (IMG: J.Anderson)

For the first time since December 2011, prices at pumps across the nation have fallen nearly five cents. These findings come from the Lundberg Survey, which used data collected during a two-week period ending April 20 from 2,500 gas stations.

While the price drop of nearly a nickel is significant, the nationwide average of $3.9127 per gallon of gas is still $0.03 cents higher than a year previous. This time last year, the average cost per gallon was $3.88. According to Lundberg, the price shift is due to stable crude-oil prices and significant gasoline supplies domestically.

'Gasoline prices have slipped, and if crude-oil prices remain stable, then we may see another 5 cent to 10 cent decline at the pump,' Lundberg said.

Lundberg’s data is a major change from the reports from AAA last month, where the Fuel Gauge Report noted a national average of $3.98 per gallon.

“Since the beginning of 2012, the national average price of self-serve regular unleaded gasoline has jumped from $3.28 per gallon to $3.89 per gallon, an increase of 61 cents per gallon. At this price, the average household using 1,200 gallons of gasoline per year spends about $4,668 annually, or about $389 per month,” Mark Brown, the executive vice president for AAA, told a House committee in March.

According to AAA, the national average on Sunday was $3.863 per gallon in the U.S.

For those wishing to track fuel prices recorded by AAA, the website below is updated daily.

http://fuelgaugereport.opisnet.com/index.asp

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