Gas price at record low
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December 20, 1998: 7:31 p.m. ET
Adjusted for inflation, prices are lowest ever, according to Lundberg survey
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LOS ANGELES (CNN) -- Gas prices continued to fall in mid-December, showing no reaction to the air attacks against Iraq - an example of just how big the oil glut is, according to the publisher of a national gas survey.
Trilby Lundberg, publisher of the bi-weekly Lundberg Survey of 10,000 gas stations nationwide, reported in its Dec. 18 survey that, taking inflation into account, gas prices had fallen to the lowest in history.
The weighted average price for all grades of self and full service gasoline fell to just under $1.04 ($1.0355) per gallon, a decline of 1.12 cents per gallon over the past two weeks.
The weighted average price for self service regular fell to 97.54 cents per gallon, a decline of 1.14 cents per gallon.
The cheapest average price for gasoline was Tulsa, Okla., at 75.76 cents per gallon.
The most expensive average price for gasoline remained Honolulu, Hawaii, at $1.51 per gallon.
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