The average price for a gallon of regular gasoline in the United States has continued its steady decline, dropping 32 cents in the past two weeks, continuing a decline that stretched more than a month, the Associated Press reports.
The price drops trail the plummet in the price of a barrel of crude oil, which has dropped about 20% in the past six weeks, from a peak of $122 on June 8th to a closing price of $95 Friday. Retail prices for gasoline, however, have not seen a parallel drop, going down only 11% over the same time.
In February 2022, when crude was selling for $95 per barrel, average retail gas prices were approximately $3.60.