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Gas prices drop nearly a penny, still average $2.37 a gallon

5 months 3 weeks 1 day ago June 19, 2016 Jun 19, 2016 Sunday, June 19 2016 June 19, 2016 3:05 PM in News
Source: Associated Press
By: ApNewsNow

CAMARILLO - The average price of gasoline has leveled off to $2.37 for a gallon of regular unleaded.

Industry analyst Trilby Lundberg said Sunday that the price dropped nearly a penny since peaking two weeks ago. The slight decline came after nearly three months of rising prices.

Lundberg says the price of crude, ample supplies and a strong refining capacity will probably lead to further price declines at the pump.

The Lundberg Survey found the average price of midgrade unleaded was $2.63 a gallon and $2.85 for premium.

The highest average price for regular gasoline in the Lower 48 was $2.90 a gallon in the San Francisco Bay Area. The lowest was $1.99 in Tulsa, Oklahoma.

The U.S. average diesel price is $2.42 per gallon, up 3 cents from two weeks ago.

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