Gasoline Prices Fall Ahead Of July 4th Holiday Weekend
$UGA
The average price of regular grade gasoline fell by nearly 2 cents over the last 2 weeks, the 1st nationwide price decline at the pumps after more than 2 months of steady increases, according to the Lundberg survey released Sunday.
Drivers paid an average of $2.85 a gal, 86 cents below the average price paid at this time last year. Strong US gasoline supplies and steady Crude Oil prices point to likely further declines in the coming weeks, said Trilby Lundberg, publisher of the survey.
“In the absence of any significant rise in Crude Oil prices, which have been quite stable over more than 2 months, the flush supply and high refining capacity utilization in the US has offset the impact of our robustly growing gasoline demand,” she said.
The lowest average-price gasoline in the survey of cities in the lower 48 states was found in Jackson, Mississippi, at $2.44 a gal. The most expensive was San Diego, at $3.52 a gal.
| HeffX-LTN Analysis for UGA: | Overall | Short | Intermediate | Long |
| Neutral (0.23) | Neutral (0.13) | Neutral (0.21) | Bullish (0.36) |
Happy motoring…
HeffX-LTN
Paul Ebeling
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