Amer­i­cans con­tinue to en­joy lower gas prices

The Columbus Dispatch - - Morningstarters -

Many Amer­i­cans are en­joy­ing a lit­tle bit of sav­ings re­cently at the gas pump.

The av­er­age U.S. price of reg­u­lar-grade gaso­line has dropped 12 cents a gal­lon the past three weeks to $2.31.

In­dus­try an­a­lyst Trilby Lund­berg of the Lund­berg Sur­vey said Sun­day that fall­ing crude oil costs are the main rea­son for the de­crease at the pump.

The av­er­age gas price has dropped 66 cents the past 3½ months.

The high­est av­er­age price in the na­tion is $3.46 a gal­lon in the San Fran­cisco Bay Area, and the low­est is $1.80 in Ba­ton Rouge, Louisiana.

The av­er­age price of diesel fell 9 cents the past three weeks, to $3.03.

Last month, OPEC coun­tries, in­clud­ing Saudi Ara­bia, and other ma­jor oil pro­duc­ers agreed to cut pro­duc­tion by 1.2 mil­lion bar­rels a day to re­duce over­sup­ply and boost prices for the first six months of 2019.

Oil pro­duc­ers are un­der pres­sure to re­duce pro­duc­tion fol­low­ing a sharp fall in oil prices in re­cent months be­cause ma­jor pro­duc­ers — in­clud­ing the United States — are pump­ing oil at high rates.

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