The national fuel price has decreased approximately $0.03 in the past two weeks to $4.24 a gallon.
“Although crude oil prices rose in this period, the past few days saw them drop,” said industry analyst Trilby Lundberg. “This with a big loss of business margin by retailers allowed the average price to decline. Unless oil prices fall further, additional drops in pump prices are likely to be small or none.”
According to the Lundberg Survey report from April 24, the $0.03 decrease takes the total drop over six weeks to $0.19 per gallon, putting the current price $1.27 higher than one year ago.
The current national average for mid-grade gasoline as of April 24 was $4.57 a gallon, while the average for premium gasoline was $4.83.
In a survey report dated April 22, some areas of the country, such as Tulsa, Oklahoma, have seen prices average as low as $3.70. However, San Francisco has seen prices at an average of $5.71.
President Joe Biden has had a few ideas for trying to lower gas prices. As reported by The Dallas Express, he visited Iowa earlier this month to unveil a plan to reduce gasoline costs by waiving ethanol-blending requirements, lowering the price by approximately $0.10 a gallon at a select number of stations.
Also, on March 31, President Biden announced the release of 1 million barrels of oil per day from the country’s strategic petroleum reserve for six months.