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Latest Business News

Average U.S. Gas Prices Drop 25 Cents

Sunday, October 23, 2005 11:11:24 PM

A sign on a gas pump states that the fire marshall has ordered that residents are allowed to fill up only one extra  tank of gas Friday, Oct. 21, 2005 at a gas station with dwindling supplies in anticipation of Hurricane Wilma in Cape Coral, Fla. Landfall somewhere on Florida's western coast was not likely until sometime Monday afternoon, forecasters said. Wilma will likely linger over the Yucatan for a few days, National Hurricane Center Director Max Mayfield said Friday. (AP Photo/Wilfredo Lee)CAMARILLO, Calif. (AP) - Retail gas prices across the nation fell an average of 25 cents in the past two weeks as refineries in the Gulf Coast steadily resumed production, according to a survey released Sunday.

Still, prices remained slightly higher than pre-Hurricane Katrina levels.

The weighted average price for all three grades declined to $2.69 a gallon on Oct. 21, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.


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