LI gas price falls 7 cents in past week

Long Island gasoline prices dropped 7 cents in the past week to $3.83 a gallon. Regular gasoline averaged $3.829 in Nassau and Suffolk counties Monday morning, according to a survey done for AAA. The new average is 22 cents lower than a year ago, when regular was $4.047 a gallon. The last time regular sold for $3.829 was Sept. 28. The price of benchmark U.S. oil fell $7.63, or 8.4 percent, last week as gloomy economic data from the United States, China and Europe raised questions about the strength of demand for oil. The price recovered slightly Monday to close up 75 cents to $83.98 per barrel in New York. The AAA survey is based on the lowest price available at service stations that charge less for cash than credit card purchases.