Gas prices dip slightly
BY TOM INCANTALUPO
Newsday Staff Writer
May 31, 2006
Despite heavy demand over Memorial Day weekend, gasoline prices have declined a bit on Long Island, with the average for regular unleaded falling by 2.8 cents a gallon since Tuesday last week, to $3.189.
In New York City's five boroughs, the average for regular unleaded yesterday was $3.231 a gallon, down 1.2 cents in seven days, according to the American Automobile Association's Daily Fuel Gauge report.
Experts attribute the decline to strengthening supplies and a small drop in consumption by Americans. "Part of it is that you've seen a softness in consumption," said Bill O'Grady, assistant director of market analysis at AG Edwards & Sons in St. Louis. "And we're sitting on pretty ample levels of inventory right now. We're not in bad shape."
story continued
Newsday Staff Writer
May 31, 2006
Despite heavy demand over Memorial Day weekend, gasoline prices have declined a bit on Long Island, with the average for regular unleaded falling by 2.8 cents a gallon since Tuesday last week, to $3.189.
In New York City's five boroughs, the average for regular unleaded yesterday was $3.231 a gallon, down 1.2 cents in seven days, according to the American Automobile Association's Daily Fuel Gauge report.
Experts attribute the decline to strengthening supplies and a small drop in consumption by Americans. "Part of it is that you've seen a softness in consumption," said Bill O'Grady, assistant director of market analysis at AG Edwards & Sons in St. Louis. "And we're sitting on pretty ample levels of inventory right now. We're not in bad shape."
story continued
posted by anthony m, at Wednesday, May 31, 2006
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