Gasoline Price Stability Continues

CAMARILLO, Calif. The AP is reporting that gas prices have held steady for more than five months, dropping less than a penny over the past three weeks, a gasoline industry analyst said Sunday.

``The price continues to be nearly flat, which is in great contrast to prior years,'' analyst Trilby Lundberg said.

The average price for gas nationwide, including all grades and taxes, was about $1.45 a gallon on Friday, according to the Lundberg survey of 8,000 stations released Sunday.

Prices have shown little change since early April, when a gallon of gas cost about $1.46, said Lundberg.

Last year, prices were more volatile. In early April, they were around $1.54 and climbed to $1.76 in mid-May before falling to $1.51 by late August. In 2000 it was the same pattern: a gallon of gas cost $1.57 in early April, jumped to $1.71 in late June and fell to $1.55 by late August.

This year's flat prices are due to stability in crude oil prices and consistent production at U.S. refineries, Lundberg said. And those conditions are expected to continue.

``There does not seem to be any immediate reason to predict the end of crude oil price stability,'' she said.

Gas today remains more than a dime cheaper than a year ago. On Sept. 7, 2001, the average weighted price for a gallon of gas was about $1.56, Lundberg said.

The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.42 per gallon for regular, $1.52 for mid-grade and $1.60 for premium.