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The latest on gasoline prices

The latest on gasoline prices Click to Enlarge Photo: George Doyle, Photos.com

Jul 27, 2014 at 4:26 pm

CAMARILLO, Calif. (AP) — A national survey finds the average U.S. price of regular-grade gasoline has plummeted 9 cents a gallon over the past two weeks to $3.58.

That's the largest drop this year.

Industry analyst Trilby Lundberg said Sunday the decrease came despite a rise in crude-oil prices.

Lundberg says U.S. refiners, enjoying plentiful supplies, aggressively cut wholesale prices to chase sales.

Midgrade averages were $3.78, and premium averages were $3.93.

The U.S. average retail diesel price is down 4 cents per gallon, to $3.90.

The lowest average price Lundberg found in the lower 48 states was $3.23 in Tulsa, Oklahoma. The highest was $4.03 in San Francisco.

The lowest average price in California was $3.86 in Sacramento.

Mike Tanner

Posted By Mike Tanner

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