Oil markets, strong production lead gas prices lower

Mar 23, 2015 10:33 AM by News Staff

The average national price of a regular gallon of gasoline has dropped 4 cents in the last two weeks to $2.50, but prices in Chico have held firm at $2.42.

Industry analyst Trilby Lundberg said Sunday that falling oil prices and strong production at U.S. refineries led to lower numbers at the pump. The drop during the two-week period ended Friday comes despite labor strikes at some refineries.

Los Angeles had the most expensive gas among cities surveyed in the Lower 48 states at $3.29. Charleston, South Carolina, had the cheapest at $2.11.

The average national price for midgrade gas was $2.71 and $2.87 for premium. Diesel stands at $2.97, down 5 cents.

In Chico, prices Sunday were 69.2 cents per gallon lower than the same day one year ago and are 40.1 cents per gallon higher than a month ago.

Copyright 2015 The Associated Press. All rights reserved.


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