A gallon will only run drivers in the Capital City – on average – $2.30. “Oil prices are forecast to remain at this level through the rest of the year”.
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Gas prices continue to fall in the Montgomery area.
The average price of gasoline has dropped 11 cents over the past two weeks to $2.71 a gallon.
“Obviously things are going much more smoothly”, Automobile Club of Southern California spokeswoman Marie Montgomery said Monday.
Gas prices for Montgomery County averaged about $2.22 a gallon on Sunday, according to GasBuddy’s daily survey of gas outlets.
Oil prices were about $45 a barrel, near their low for the year. Gas hasn’t been below the $2 mark since 2009, when the U.S. was in the depths of the recession.
Jenkins said the plummeting price of crude has been integral to the drop.
The lowest price in the Harrisburg area today is $2.36 a gallon – 10 cents a gallon lower than last week.
The weekly average was $44.89, the lowest since March 20. According to AAA, it could fall another 15 cents.
Strong production at refineries signals oversupplies of crude oil, which could mean notable drops in gas prices leading up to the Labor Day holiday. Also, the American Petroleum Institute (API) analysis of gas taxes and fees by state, called the State Motor Fuel Tax Report, shows that all three states with prices under $2.25 have among the lowest in the country.
The high gasoline prices prompted Consumer Watchdog and billionaire environmentalist Tom Steyer to urge lawmakers to establish new mandates for refiners to prevent abnormal price increases. A price of $2.50/gallon is expected by the end of the month.
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While gas prices have slid in the last month, oil prices have fallen even steeper, down 16% during the same period.
