Gas Prices Continue to Slide, Study Says

Gas prices fell nearly 2 cents per gallon at the pump in two weeks, continuing a nearly yearlong plunge, an industry analyst said. The Lundberg Survey of 10,000 stations nationwide found that the average retail price, including all grades and taxes, was about a quarter-cent under $1.11 Friday. That was down 1.81 cents from the July 24 survey, Trilby Lundberg said. Lundberg attributes the fall to the crude oil glut; however, it was unclear whether prices will continue to fall. Inventory surveys show that gasoline stockpiles finally are beginning to shrink due to summer demand. And crude oil futures rose last week after the U.N. said it would maintain economic sanctions against Iraq, which broke off cooperation with U.N. weapons inspectors.