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Gas prices plummet, Richmond on par with last year’s average

Posted at 4:15 PM, Dec 09, 2012
and last updated 2012-12-09 16:15:43-05

(CNN) — Gas prices have plummeted 46 cents a gallon over the past two months, according to a survey released Sunday.

“This has been a true price crash,” said Trilby Lundberg, publisher of the Lundberg Survey.

The average price of a gallon of regular gasoline is $3.38, down nearly a dime over the past three weeks, Lundberg said.

“This crash began back when refining problems around the country were being fixed, one after the other, at the same time that our seasonal gasoline demand was shrinking,” she said.

Crude oil prices have also dropped after having risen steadily.

Prices at the pump should drop even more in the coming days, as refiners cut how much they’re charging distributors and retailers, Lundberg said.

The national average is about 8 cents higher than the average a year ago.

The survey tallies prices at thousands of gas stations nationwide.

Long Island, New York, had the highest average in the latest survey, at $3.85. The lowest average was in Memphis, Tennessee, at $3.04.

According to AAA, the area average for Richmond gas is $3.16, which is down just slightly from the $3.18 average last week. Last month gas prices were almost a dimer higher, on average. And this time last year prices in the region were about the same, but about five cents higher, on average. 

Here are average prices in some other cities:

• Boston – $3.59

• Baltimore – $3.34

• Atlanta – $3.27

• Baton Rouge, Louisiana• – $3.11

• St. Louis – $3.05

• Salt Lake City – $3.40

• Los Angeles – $3.68