Survey: Gas prices post first drop since January

CNN) -- Gas prices are down for the first time since January, according to a national survey released Sunday.

The average price of a gallon of self-serve regular gasoline has dropped more than 7 cents in the past three weeks, to $3.11, the survey found.

Drivers in Jackson, Mississippi, are getting the best deal at $2.87 per gallon. Chicago drivers are paying the most -- $3.61.

The Lundberg Survey of about 5,000 gas stations was carried out June 8 and May 18.

When the average price of gasoline hit $3.18 in May, it was the highest price ever recorded, even when adjusted for inflation, according to a previous Lundberg survey.

The 7.37-cent drop comes nowhere near offsetting the $1.00 rise in the price of gas that occurred between January 19 and May 18, said survey publisher Trilby Lundberg.

"It's unlikely we can see the other 93 cents any time soon," she told CNN in a telephone interview.

Most of that 7-cents-relief came from lower prices charged for gas produced in refineries outside the United States, she said.

Complete story

I am appauled at the price of gas. I am also disturbed with the record profits reported from the oil companies, month after month, after month.

I remember the day when the price of gas WAS $.19 a gallon. Yes, you read it right. Nineteen cents.

I have a feeling that prices will be hight for a long time to come.