August 21, 2014
NEW YORK (AP) - Gasoline across the U.S. is cheaper after a week of rapid price declines. But it still isn't cheap.
The national average for a gallon of gas has dropped 13 cents in the past week to $3.625. That's the biggest weekly decline since the 7-day period ended Nov. 28, 2008, according to Oil Price Information Services analyst Fred Rozell.
Falling oil prices, rising supplies of gasoline and a switch by refiners to cheaper winter blends of gas have contributed to lower pump prices.
But gasoline is still more expensive than it's ever been for this time of year. The previous record for Oct. 23 was last year's $3.46 per gallon.
Rozell says gasoline has averaged $3.65 so far this year, 10 cents above the record set in 2011.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.