Gas Prices Fall Nearly 3 Cents; Lower Than ’94

Gasoline prices nationwide dropped nearly 3 cents a gallon in the past three weeks, dipping even lower than the average per-gallon price a year ago, an oil industry analyst said Sunday.

The Lundberg Survey of 10,000 gas stations found the average price, including all grades and taxes, was 121.73 cents a gallon on Friday, a 2.71-cent drop from the 124.44-cent average during the July 21 sampling.

On Aug. 5, 1994, the average price was 123.81 cents.

“This is the first time this year that gasoline prices overall have been lower than corresponding dates last year,” said Trilby Lundberg, publisher of the Lundberg Survey.

“Since June 9, they have been falling nationwide, mostly due to lower crude oil prices,” Lundberg said. “There has also been incredible demand. The summer of 1995 is going to go down as an extraordinary year with higher-than-ever demand.”

At self-serve pumps, the average price, including taxes, was 115.00 cents for regular unleaded, 125.06 cents for mid-grade unleaded, 133.33 cents for premium unleaded and 114.64 cents for leaded regular.

At full-service pumps, the average price, including taxes, was 150.64 cents for regular unleaded, 159.30 cents for mid-grade unleaded, 166.27 cents for premium unleaded and 150.79 cents for leaded regular.