Jan 11, 2015 4:30 PM

Survey: US gas prices fall 27 cents per gallon

The Associated Press

CAMARILLO, Calif. (AP) - The average price of regular gasoline nationwide has dropped 27 cents a gallon in the past three weeks, to $2.20.

Industry analyst Trilby Lundberg says it's the lowest in more than five years and more drops are possible, although probably not as steep.

Lundberg said Sunday that lower crude oil prices are driving prices down, along with an abundant oil supply.

The highest-priced gas in the Lower 48 states was found in San Francisco, at $2.66 a gallon. The lowest was in Albuquerque, New Mexico, at $1.76 a gallon.

California's lowest average was in Sacramento, at $2.42 a gallon.

The average price for midgrade gas in the U.S. is $2.44. For premium it's $2.61.


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