Gas Prices Rise in West, Fall Elsewhere

Gasoline prices dropped more than a penny a gallon at the pump as retailers passed on the benefits of lower crude oil costs, an analyst said. The average price, including all grades and taxes, was slightly over $1.29 per gallon on Friday, down 1.12 cents over two weeks, according to the Lundberg Survey of 10,000 stations nationwide. An exception to the price drop was in the West, where many cities saw a slight increase. A price war in the region late last year made gasoline cheaper there than in the nation overall, cutting profit margins and making retailers slower to pass on new wholesale cuts, said the company’s Trilby Lundberg. The average price of gasoline nationwide was $1.2930 per gallon. At self-serve stations, prices were $1.2404 for regular unleaded, $1.3386 for mid-grade and $1.4210 for premium. Prices at full-serve stations were $1.5853 per gallon for regular unleaded, $1.6726 for mid-grade and $1.7389 for premium.