Forex

The average price of gas dropped just barely under $4 a gallon for the first time since the beginning of June, according to a national survey released Sunday.

The survey showed that the average price at gas stations across the nation was a fraction of a cent below $4.00 for a gallon of self-serve regular, said survey publisher Trilby Lundberg.

The price dipped about 12 cents over two weeks. The survey, which tallies prices at thousands of gas stations nationwide, found an average of $3.9959.

"It is good that we are a under 4 dollars a gallon," said Lundberg. "But it is the drop of 12 cents that really counts."

Some cities saw a drop of more than 20 cents in the last two weeks since the previous survey, Lundberg said. She said the drop was caused largely by a decline in the record prices of crude oil.

On July 25, the day the latest survey was conducted, crude oil prices were at about $123 a barrel -- down from about $145 earlier in the month, Lundberg said.

Also, a slowdown in demand may have helped reduce gas prices, Lundberg said. She added that there are indications gas prices could drop another dime nationally in coming weeks.

The Lundberg Survey found Anchorage, Alaska, had the highest average gas price at $4.43. Wichita, Kansas had the cheapest gas at $3.61.

Here's a look at the average prices in some other metro areas surveyed:

-- Cleveland, Ohio - $3.77

-- Detroit, Michigan - $3.82

-- Houston, Texas - $3.87

-- Birmingham, Alabama - $3.90

-- Denver, Colorado -$3.95

-- Atlanta, Georgia - $3.98

-- Boston, Massachusetts - $4.02

-- Seattle, Washington - $4.23

-- San Francisco, California - $4.40