U.S. Gas Prices Drop 3.5 Cents, May Continue To Drop

CAMARILLO, Calif. (AP/ CBS Sacramento) — The average price of a gallon of regular gasoline in the U.S. has dropped 3 ½ cents over the past two weeks.

Industry analyst Trilby Lundberg said Sunday that the price fell to $3.69 because supplies are meeting demand. She predicts prices will continue to drop but at a moderate pace as crude oil prices remain relatively strong.

Lundberg’s prediction comes after similar forecasts that gas prices had plateaued for the year.

Gas prices nearly climbed 43 cents per gallon between Feb. 7 and May 2, prompting many to wonder why, according to USA Today.

Of the cities surveyed in the Lower 48 states, Albuquerque, New Mexico, had the lowest price at $3.32 per gallon, and San Francisco had the highest at $4.17.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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