CAMARILLO, Calif. – The average U.S. price of regular-grade gasoline plunged 19 cents over the past two weeks to $4.86 per gallon.
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the continued decline comes as crude oil costs also fall.
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“Assuming oil prices do not shoot up from here, motorists may see prices drop another 10-20 cents as the oil price cuts continue making their way to street level,” Lundberg said in a statement.
The average price at the pump is down 24 cents over the past month, but it's $1.66 higher than it was one year ago.
Nationwide, the highest average price for regular-grade gas was in the San Francisco Bay Area, at $6.14 per gallon. The lowest average was in Baton Rouge, Louisiana, at $4.19 per gallon.
According to the survey, the average price of diesel dropped 13 cents since June 24 to $5.76 a gallon.