• Photo
Gas prices are displayed at a gas station and mini-mart in the Mid City section of New Orleans

Gas prices are displayed at a gas station and mini-mart in the Mid City section of New Orleans, Thursday, Oct. 18, 2012. (AP Photo/Gerald Herbert)

Gas gets cheaper, but still isn't cheap

Gas has dropped 13 cents in the past week

Updated: Wednesday, 24 Oct 2012, 12:37 PM EDT
Published : Wednesday, 24 Oct 2012, 12:29 PM EDT

NEW YORK (AP) — Gasoline across the U.S. is cheaper after a week of rapid price declines. But it still isn't cheap.

The national average for a gallon of gas has dropped 13 cents in the past week to $3.625. That's the biggest weekly decline since the 7-day period ended Nov. 28, 2008, according to Oil Price Information Services analyst Fred Rozell.

Falling oil prices, rising supplies of gasoline and a switch by refiners to cheaper winter blends of gas have contributed to lower pump prices.

But gasoline is still more expensive than it's ever been for this time of year. The previous record for Oct. 23 was last year's $3.46 per gallon.

Rozell says gasoline has averaged $3.65 so far this year, 10 cents above the record set in 2011.

  • Comment Privately

Comment to 24 Hour News 8

Don't have a Facebook account? Or don't want to share something publicly? Email us here.

Report a comment

See a comment that should be moderated? Fill out the form here and tell us why.

Advertisement
Advertisement

Advertisement