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Survey: Gas price stability trend continues

Monday September 30, 2002

CAMARILLO, Calif. (AP) Gas prices have remained steady over the past two weeks, with pump prices rising less than one cent to continue a six-month stabilizing trend, an industry analyst has said.

The average price for gas nationwide, including all grades and taxes, was $1.4566, according to the Lundberg Survey of 8,000 stations nationwide. That was just a .57 cent increase from Sept. 13.

``The national average is continuing in a narrow range of change of less than three pennies over a six month duration,'' analyst Trilby Lundberg said Sunday. ``Nationally, the price has remained remarkably steady since April 5.''

Prices have remained practically constant since early April, when a gallon of gas cost about $1.46, she said.

If the United States engages in military action with Iraq, the fluctuating gas prices of past years will likely return, Lundberg said.

``This relative lack of price volatility might later be remembered as the calm before the storm,'' she said.

The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.42 per gallon for regular, $1.52 for mid-grade and $1.61 for premium.

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