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The average U.S. gasoline price fell 19 cents over the past 2 weeks. It could drop another 10-20 cents, an industry expert says

July 10, 2022, 8:31 PM UTC
President Joe Biden
U.S. President Joe Biden speaks about gas prices in the South Court Auditorium at the White House campus on June 22 in Washington, D.C. Biden called on Congress to temporarily suspend the federal gas tax.
Drew Angerer—Getty Images

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.

“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.

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