Weak demand, low oil costs push down gas prices

CAMARILLO, Calif. -- The price of gasoline fell 4.5 cents in the past two weeks because of weak demand and the plunging cost of crude oil, industry analyst Trilby Lundberg said Sunday.

Some regions of the country are seeing buck-a-gallon gas for the first time in months, Lundberg said. The lowest price in the nation Friday for a gallon of regular grade was 97 cents in Atlanta, and the highest was $1.82 in Honolulu.

The average retail price of gasoline, including all grades and taxes, was about $1.23 per gallon on Friday, according to the two-week Lundberg Survey of nearly 8,000 stations nationwide.

The price of gasoline has fallen 32.2 cents since Sept. 7. Prices are the lowest for this time of year since 1998 and show no sign of rising through the end of the year, Lundberg said.

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