The average price for a gallon of gasoline in the United States slipped in the last two weeks, losing 7.61 cents per gallon because of oversupply, reports Reuters, citing a widely followed survey.
Gasoline cost $3.5985 per gallon on average on August 9, down from $3.6746 on July 26, based on a survey of about 2,500 retail stations.
Trilby Lundberg, editor of the Lundberg survey said the drop in gasoline prices was due to increased supply of the motor fuel as U.S. refiners kept production capacity high, Reuters reports.
