MEMO: GASOLINE PRICES DOWN MORE THAN FIVE CENTS

Gasoline prices fell by more than nickel over the past three weeks, according to an industry survey.

The average price of all grades of gasoline was $1.54 on Friday, according to the Lundberg Survey of about 10,000 service stations nationwide.

Lower crude oil prices and a large supply of refined gasoline have contributed to the lower prices, said industry analyst Trilby Lundberg. The trend likely will continue over the next few weeks because the winter season typically leads to less demand for gasoline, Lundberg said.

Prices here range from $1.16 to $1.36, for regular to ethel unleaded.