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Gas Prices Dropping: $3.08 US Average, Lot Less in Some Places

Image: Gas Prices Dropping: $3.08 US Average, Lot Less in Some Places
Gas prices are displayed at an Arco gas station on October 27, 2014 in Mill Valley, California. (Justin Sullivan/Getty Images)

By    |   Tuesday, 28 Oct 2014 09:22 AM

The average U.S. cost of regular grade gas dropped 18 cents per gallon in the last two weeks, to $3.08 per gallon, according to a national survey of gas prices. Gas for under $2.75 can be found in many locales.

The Associated Press reported industry analyst Trilby Lundberg as saying Sunday that  midgrade gasoline averages $3.31 and premium $3.47. Retail diesel averages $3.67.

Lundberg said the price has dropped 65 cents since its peak in May and is 29 cents below what it was last year.

She said the drop has been driven by a decrease in the price of crude oil. She forecast minimal further cuts if prices remain stable.

In the Lower 48 states, San Francisco had the highest average price at $3.45 per gallon, while Memphis had the lowest average at $2.73.

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The average U.S. cost of regular grade gas dropped 18 cents per gallon in the last two weeks, to $3.08 per gallon, according to a national survey of gas prices. Gas for under $2.75 can be found in many locales.
gas, prices, dropping, us, average
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2014-22-28
Tuesday, 28 Oct 2014 09:22 AM
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