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News Summary: US gas prices lower except on coasts

Wednesday - 10/3/2012, 6:11pm  ET

By The Associated Press

(AP) - PUMPED UP: Refinery and pipeline problems have shrunk gasoline supplies and driven up prices on both coasts. In other regions, gas prices have trickled lower after a late-summer surge.

SLICK CULPRIT: Oil prices rose 27 percent from late June through mid-September. In addition to refinery issues, production was affected by Hurricane Isaac. Since mid-September, oil prices have dropped 11 percent.

DOWN THE ROAD: Analysts predict average prices will be $3.50 per gallon or lower by Thanksgiving for most of the country. On the West Coast, the price is expected to be closer to $4 per gallon.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)