Cost of gasoline down 4 cents in last two weeks

updated 5:00 p.m. ET Oct. 7, 2007

CAMARILLO, Calif. - The average price for gasoline in the U.S. dropped about 4 cents over the last two weeks, according to a national survey released Sunday.

The average price of regular gasoline on Friday was $2.75 a gallon, mid-grade was $2.87 and premium was $2.99, oil industry analyst Trilby Lundberg said.

The nation’s lowest average price was in Newark, N.J., where a gallon of regular cost $2.52. The highest was in Honolulu at $3.09, according to the Lundberg Survey of 7,000 stations nationwide.

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