Gas prices drop 7 cents in two weeks

Gas prices drop to an average $3.47 a gallon nationally. Memphis, Tenn., has seen gas prices drop to $3.04 for a gallon of regular unleaded, the lowest of any city in the Lundberg Survey of the Lower 48 states.

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    In this October file photo, lower fuel prices are advertised at a North Little Rock, Ark., gas station. Nationally, gas prices drop seven cents over the past two weeks, according to a new survey.
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The average U.S. price of a gallon of gasoline has dropped 7 cents over the past two weeks.

That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.47.

Midgrade costs an average of $3.65 a gallon, and premium is $3.78.

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Diesel dipped 4 cents to $4.04 a gallon.

Of the cities surveyed in the lower 48 states, Memphis, Tenn., has the nation's lowest average price for gas at $3.04. Long Island, N.Y., has the highest at $4.18.

In California, the lowest average price was $3.59 in Sacramento and the highest was $3.83 in Bakersfield. The average statewide for a gallon of regular was $3.77, down 21 cents.

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