WASHINGTON, April 7 (UPI) -- The average U.S. price for a gallon of regular unleaded gasoline continues its steady decline as most refineries return to status quo operations, AAA said.
The motor club reports a national average retail price for a gallon of regular unleaded at $2.38, more than a full percent less than last week. The average price on this date in 2014 was $3.58.
Crude oil prices are off about 50 percent from their June highs above $100 per barrel, leading in part to a steady decline in gasoline prices.
"While prices could still rise again this spring if global crude prices rise or domestic refineries experience production issues, the timing of this seasonal peak would be within the range of recent years but the high would be significantly lower," AAA said in a weekly report.
The historic peak was $3.98 per gallon in May 2011. The price at the pump has declined for 25 of the last 30 days.
Prices increased in early 2015 because of a series of refinery problems in the West Coast and Midwest markets. AAA said most of those issues have been resolved and any major price spikes were largely prevented because crude oil prices remained low.
"Unless there are new regional refinery issues or global crude prices turn markedly higher, drivers can expect to see pump prices continue to slide leading up to the start of the summer driving season," AAA said.
South Carolina had the lowest state average price in the nation at $2.08. More than half of U.S. states posted an average price below the $2 mark in early January.
