September 25, 2011 / 5:58 PM / 9 years ago

U.S. gasoline prices slide; more to come-survey

Sept 25 (Reuters) - The average price for a gallon of gasoline in the United States tumbled 12.23 cents in the past two weeks and appeared poised to drop even more as crude oil prices weaken, the nationwide Lundberg survey showed on Sunday.

The national average price was $3.5446 on Sept. 23, down from $3.67 two weeks ago, but still well above the year-ago level of $2.6891 per gallon, according to the Lundberg survey of 2,500 retail gasoline stations.

Drivers in St. Louis paid the lowest average price of $3.08 per gallon, while San Francisco’s prices were the highest among major cities at $3.90.

The steep decline in the price of crude oil over the past two weeks has not been fully reflected in retail gasoline prices, which could fall further if crude oil stays near current levels.

“I think we could see at least another dime of decline,” survey editor Trilby Lundberg said.

WTI crude oil futures fell to $79.85 per barrel on the NYMEX on Friday as worries about the European economy and the weak employment situation in the United States continued to affect the market. (Reporting by Matt Daily in New York, editing by Maureen Bavdek)

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