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Kevork Djansezian / Getty Images file
Gas prices have dropped 4 cents per gallon in the last two weeks due to
plentiful supplies. The average price is $3.56 -- 20 cents lower than a
year ago, according to the Lundberg Survey.
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Just in time for the Labor Day weekend -- gas prices have fallen again.
The average price for a gallon of gasoline slipped in the last two
weeks, losing almost 4 cents due to abundant supplies, according to the
Lundberg survey.
Gasoline cost $3.5596 per gallon on average on
Aug. 23, down from $3.5895 on Aug. 9, based on a survey of about 2,500
retail stations in the 48 contiguous states. The average price per
gallon had slipped 8 cents per gallon in the previous two-week period
and is now 20 cents lower than a year ago.
Trilby Lundberg, editor
of the Lundberg survey, said the drop in gasoline prices was due to
increased supply of the motor fuel as U.S. refiners kept production
capacity high.
"There's ample supply of gasoline," she said.
(Read more: AAA: Public less worried about dangerous driving)
The most expensive gasoline in the states surveyed was found in Long
Island, New York, and San Diego, California, at $3.89 per gallon,
while the cheapest was found in Charleston, South Carolina, where it
cost $3.22 per gallon.
On Friday, crude oil futures traded in New York rose 1.4 percent to settle at $106.42 per barrel.
Source: NBC News
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