Written by The Business Journal Staff
(AP) — The average price of gasoline has dropped 7 cents over the past three weeks to $2.29 a gallon for regular grade.
Industry analyst Trilby Lundberg said Sunday that the decline comes thanks to lower oil prices and abundant gasoline supply. She says the current price is 54 cents less than it was a year ago.
The Lundberg Survey found the average price of midgrade unleaded was $2.57 a gallon and $2.78 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 $1.91 in Charleston, South Carolina.
The U.S. average diesel price is $2.41 per gallon, down a penny from two weeks ago.