Last week, gas prices dropped for the seventh week in a row, and some of the more fuel-efficient segments are following suit at the auction.

Prices at the pump dropped to a national average of $3.47 per gallon last week, and Black Book’s Ricky Beggs pointed out the three smaller, more fuel-efficient segments saw the largest percentage declines among the car segments.

Traditionally, lower gas prices — which sit $0.08 lower than the same period last year — are linked to softer auction price trends among the more fuel efficient rides.

In the editorial director’s latest “Beggs on the Used Car Market” video report, he reported the entry level segment saw the biggest price drop among cars last week, as they fell by 1.62 percent.

And the compact cars and entry mid-size cars followed with 0.65-percent price drops each.  

Interestingly, these three segments saw some of the strongest price retention in the lanes this past spring.

“During the latter half of the year they are now catching up to their expected overall annual depreciation. In relation to current gas price trending, the demand for these more fuel efficient used models is not at the forefront,” Beggs said.

The larger vehicles seemed to be holding their price lines a bit better than smaller units, as the trucks experienced smaller overall price declines last week than the previous week.

There was only one segment that saw a weekly decline greater than 0.5 percent, Beggs pointed out — the cargo minivans with a drop of 0.91 percent.

On the other hand, the full-size passenger wagons saw the best price retention among the truck segments last week with a slight drop of $1.

“This full-size van segment is showing positive strength, we feel due to the almost total revamping of the type of vehicles in this segment. It is far from being just a refresher,” Beggs said. “Due to this change and the introduction of models like the Promaster, the Transit and the Sprinter, the last of the traditional full-size vans have brought renewed interest and thus higher used values in this segment.”

To view the latest “Beggs on the Used Car Market” video, see above.