Lundberg in

CSP, October 27, 2014:
Retail Fuel Prices Nearing the Bottom?
Gasoline down 18 cents per
gallon over past two weeks

CSP, October 13, 2014:
More Downstream Wealth Transfer
Retail prices still crashing, says Lundberg

CSP, September 22, 2014:
Retail Margin Grows Again
Lundberg: Winter blend, ethanol
help drop pump price to $3.37

CSP, September 8, 2014:
2014: The Best Gasoline-Margin Year of All Time?
Winter-blend likely to extend
downhill pricing trend: Lundberg

CSP, August 26, 2014:
Pie for All
Pump price down another four cents, says Lundberg

CSP, August 11, 2014:
Pump Price Drops Tapering
Retail margin slips, says Lundberg

CSP, October 27, 2014:
Retail Fuel Prices Nearing the Bottom?
Gasoline down 18 cents per
gallon over past two weeks

CAMARILLO, Calif. -- The U.S. average regular-grade retail price of gasoline fell 18.18 cents over the past two weeks, to $3.0759 per gallon, according to the most recent Lundberg Survey of approximately 2,500 U.S. gas stations. This continued the decline that began nearly six months ago. The 2014 peak price was May 2's $3.7225, some 65 cents per gallon higher than now.

This price is the lowest in nearly four years. It sits 29 cents under its year-ago point.

Crude oil brought this latest pump price decline and accounts for most of the massive plunge since spring. Refiners have fiercely turned their lower oil-buying prices into lower wholesale gasoline selling prices, and their margin on gasoline is debilitated.

Retailers have been slashing prices too, and may cut a few more pennies from margin, which after losing 6.4 cents per gallon in these two weeks, remains a very fine 26.38 cents on average on Oct. 24. If retailers do forfeit a little more, then the average price may get to within whispering distance of the $3 mark.

That would possibly be the bottom of this price plummet, crude willing.

There are indications that the market is bottoming already. Unbranded rack has bounced back up in every PADD over recent days, as the Lundberg rack-price table shows. Biggest bump: Midwest average unbranded has regained nearly 15 cents per gallon since Oct. 16, to 235.68 cents on Oct. 24 from 220.97. U.S. average unbranded is up 7.23 cents since Oct. 16.

Crude oil delivered this months-long retail price crash and can take it away. If Venezuela's request for an OPEC production cut to take place at the organization's Nov. 26 meeting were granted, that would push crude-oil prices higher than they otherwise would be. However, the few price hawks are so far being largely ignored by the doves. More oil sales at competitive, but still profitable, prices, is the prevailing mission not only inside OPEC but among world producers, benefiting U.S. and world motorists.

If oil takes yet another dive, that would give gasoline price cutting renewed strength.

Camarillo, Calif.-based Lundberg Survey Inc. is an independent market research company specializing in the U.S. petroleum marketing and related industries.

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