Gas Prices at Filing Stations Are at Lowest Point Since Mid-May

At an average of $2.83 per gallon of regular gasoline, drivers are paying the least for gas at the pumps in the United States since mid-May. The average price of gas at U.S. filing stations is down $1.66 in two weeks. West Texas Intermediate crude oil was trading at around $52 a barrel, showing an almost $8 drop in the span of a month. In the past week, the nationwide gasoline supply rose 1.2 million barrels to 218 million barrels. According to the Lundberg Survey, which surveyed 2,500 different filling stations around the country, the cheapest gasoline is found in Jackson, Mississippi where a gallon of regular gasoline costs $2.42. Los Angeles, California had the highest price for a gallon at $3.66, however, Lundberg reports that southern California has been suffering from a supply crisis due to issues at the refineries that has partly caused the high prices in California. Lundberg says that the nationwide drop in gas prices would have been more significant were it not for the California supply crisis. The report from Lundberg Survey also noted that Albuquerque, New Mexico, Billings, Montana, and Charleston, South Carolina were other markets suffering similar supply shortages.