Gas Prices Drop Again, Down 6.44 Cents Over Two Weeks - KTRE.com | Lufkin and Nacogdoches, Texas

05/04/03 - California

Gas Prices Drop Again, Down 6.44 Cents Over Two Weeks

Camarillo, California-AP -- An industry report shows the third straight two-week drop in gasoline prices.

The Lundberg Survey of eight-thousand gas stations indicates the average price for gas nationwide is a dollar-58 per gallon. That's a six-cent per gallon drop over the past two weeks as crude oil prices continued to fall in the wake of the Iraq war.

Oil prices have been dropping because the war did not result in the destruction of Iraqi oil fields.

Analyst Trilby Lundberg says crude oil prices had several dollars extra per barrel built in prior to the war because Iraq had threatened to destroy its own oil resources. Since that didn't happen, Lundberg says the response of the oil market was a price crash.

Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

  • East Texas NewsMore>>

  • Community rallying behind Lufkin all-stars

    Community rallying behind Lufkin all-stars

    Sunday, August 19 2018 8:23 PM EDT2018-08-20 00:23:07 GMT
    Photo: KTREPhoto: KTRE

    Making history, once again, fans, friends and family members of the Lufkin Little League Junior League team cheered behind the all stars on Sunday at Buffalo Wild Wings.

    More >>

    Making history, once again, fans, friends and family members of the Lufkin Little League Junior League team cheered behind the all stars on Sunday at Buffalo Wild Wings.

    More >>
  • Chinese Taipei squeaks by Lufkin 2-0 in JLWS

    Chinese Taipei squeaks by Lufkin 2-0 in JLWS

    Sunday, August 19 2018 2:18 PM EDT2018-08-19 18:18:34 GMT
    JLWSJLWS

    The All-Stars from the Pineywoods battled Chinese Taipei less than 24 hours after beating California in the U.S. Championship game. Chinese Taipei entered the game after run-ruling Mexico in the International Championship. In the first inning of the heavyweight showdown both teams got a runner on base but both teams left the runner stranded. Lufkin's Christian Mum...

    More >>

    The All-Stars from the Pineywoods battled Chinese Taipei less than 24 hours after beating California in the U.S. Championship game. Chinese Taipei entered the game after run-ruling Mexico in the International Championship. In the first inning of the heavyweight showdown both teams got a runner on base but both teams left the runner stranded. Lufkin's Christian Mum...

    More >>
  • Lufkin Wins! All-Stars beat California 5-2 to advance to World Championship at JLWS

    Lufkin Wins! All-Stars beat California 5-2 to advance to World Championship at JLWS

    Saturday, August 18 2018 8:49 PM EDT2018-08-19 00:49:38 GMT

    Lufkin was hoping to bring home a second straight U.S. Championship with Little League baseball, this time at the Junior League World Series. The U.S. Championship was a rematch of a game a few days earlier against California. The first game saw Lufkin win 2-0 on a complete game shutout by Mark Requena. Lufkin would end up being the away team in the title game. It didn't take long for the scoring to start for Lufkin with clean up hitter Sam Flores got the scoring started early for L...

    More >>

    Lufkin was hoping to bring home a second straight U.S. Championship with Little League baseball, this time at the Junior League World Series. The U.S. Championship was a rematch of a game a few days earlier against California. The first game saw Lufkin win 2-0 on a complete game shutout by Mark Requena. Lufkin would end up being the away team in the title game. It didn't take long for the scoring to start for Lufkin with clean up hitter Sam Flores got the scoring started early for L...

    More >>
Powered by Frankly