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Survey: Gas prices nationwide drop 7 cents

/ Source: The Associated Press

The U.S. price of gasoline fell about 7 cents a gallon during the past two weeks to $2.49, for a gallon of regular unleaded.

That’s according to the national Lundberg Survey of fuel prices released Sunday.

Analyst Trilby Lundberg says it appears the rate of decline is slowing. The latest average price of regular gasoline is $1.51 below the price at the same time last year, which peaked at an all-time high of $4.11.

The average price for a gallon of mid-grade was $2.62. Premium was at $2.74.

Jackson, Miss., had the lowest average price, $2.22 for a gallon for regular unleaded. Honolulu was the highest at $3.03.