Gas prices holding steady; experts say decrease likely

The Associated Press
Monday February 12, 2001

CAMARILLO – Gasoline pump prices remained steady over the past three weeks despite falling crude oil costs and lower winter demand, an industry analyst said Sunday. 

The average price of gas nationwide on Friday was about $1.52 per gallon, down just .07 cents from Jan. 19, according to the Lundberg Survey of 7,500 stations. 

The retail price dipped less than a penny per gallon in much of the country. That was offset by slight increases in the Rocky Mountain and Western coastal states, which had seen prices dip in the previous two-week period, industry analyst Trilby Lundberg said. 

Various regions “do not move in lockstep together,” Lundberg said. 

The steady state followed an average hike of 4 cents per gallon in the previous period. Gas prices still remain nearly 19 cents lower than they were last June, when the average price reached more than $1.71 per gallon. 

Lundberg said prices should remain steady and could dip again “if there are no problems in the system (of) refining or distribution.” 

The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.49 for regular unleaded, $1.59 for midgrade and $1.68 for premium. At full-service pumps, the average was about $1.86 for regular unleaded, $1.95 for midgrade and $2.03 for premium.