Welcome to the era in which $3.63 gas is welcomed as a relief. After a rapid, budget-breaking price surge at the pumps, drivers have finally caught a break with the average gallon of gas Friday dropping 11 cents over the previous two weeks. The price is still nearly a dollar more than gas cost a year ago.
Reuters reports the decrease is due to a drop in the price of crude due in part to the International Energy Agency’s announcement that it will release 60 million barrels of oil in July. An analyst quoted in the story says prices could continue tumble by as much as 25 cents more by mid-July if crude prices continue to drop.
How much have gas prices fallen at your pumps?