Gasoline drops below $1.50 per gallon nationwide

Thursday, September 27th 2001, 12:00 am
By: News On 6

OKLAHOMA CITY (AP) _ Gasoline prices are down almost 15 cents per gallon in Oklahoma this week compared to two weeks ago.

State motorists are paying an average of $1.457 per gallon for self-serve regular unleaded, AAA Oklahoma said Wednesday.

That's nearly 15 cents per gallon below what Oklahomans paid Sept. 14 in the wake of the terrorist attacks on the East Coast.

Some metropolitan service stations were selling gas as low as 22 cents below the state average this week, AAA Oklahoma said.

The lower prices are due to expectations among energy firms that demand for petroleum products will slow as the U.S. economy falters, AAA Oklahoma said. The demand for jet fuel is expected to decrease, while the production of gasoline is expected to increase.

The AAA Fuel Gauge Survey released Wednesday said the nationwide average price for gasoline has fallen below $1.50 per gallon for the first time since Aug. 29. The national average is $1.495.