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Average gas-price in the U.S. decreased by three cents

According to the report released by Lundberg Survey on Sunday, the national average retail price of regular-grade gasoline fell three cents in the last two weeks.

The study showed that the current price of gas is $1.27 more than it was a year ago, a decrease of 19 cents over the course of six weeks.

The average price of mid-grade and premium gasoline was $4.57 and $4.83 per gallon, respectively.

According to the survey conducted on April 22, the San Francisco Bay Area had the highest average price for regular-grade gasoline nationwide, at $5.71 a gallon. Tulsa, Oklahoma, had the lowest average at $3.70 a gallon.

Lundberg conducts surveys twice a month on a national panel of markets.

“Although crude oil prices rose in this period, the past few days saw them drop. This with a big loss of business margin by retailers allowed the average price to decline. Unless oil prices fall further, additional drops in pump prices are likely to be small or none,” industry analyst Trilby Lundberg said.

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