Lower Demand Fuels Drop in Gas Prices

Lower Demand Fuels Drop in Gas Prices

POSTED: Sunday, November 4, 2012 - 2:50pm

UPDATED: Sunday, November 4, 2012 - 2:55pm

Lower demand fuels a dramatic drop in gas prices.

The average price per gallon for regular grade fell nearly 21 cents between October 19 and November 2, putting it at three dollars and 54 cents.

That's the steepest two-week drop in almost four years, according to the Lundberg Survey of fuel prices.

The survey cites a seasonal drop in demand and lower crude oil prices and predicts prices could fall another ten to twenty cents per gallon in the near future.

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