Gold is dead. Wonder why? Read this>>>>>>
Gas prices at lowest ever
4.51 a.m. ET (952 GMT) March 9, 1998
LOS ANGELES (AP) - If it seems that gasoline prices are at an
all-time low, it's because they are.
Motorists can thank dropping crude oil prices and a price war
among refiners and distributors, an industry analyst said.
The average all-grade pump price has dropped nearly 3 cents since
Feb. 20, an industry analyst said Sunday. When the figures are
adjusted for inflation, it means customers are getting the lowest
price ever, said Trilby Lundberg, who publishes the Lundberg
Survey of 10,000 gas stations nationwide.
The national average for self- and full-service combined was
$109.24 as of March 6. Since September, the average has fallen
more than 23 cents.
Regular self-serve gasoline was selling for less than $1 at nearly half
the stations in the country.
"The decline since September qualifies as a price crash, and the
pump price on average is now lower than it's ever been since the
beginning of the gasoline market, taking inflation into account,''
Lundberg said Sunday.
Sagging crude prices and battles among refiners and distributors
helped prices plummet, Lundberg said.
Crude continued its slump from the $24-per-barrel range late last
year to below $15. |
