Gasoline Prices Dip Again, Bringing Hopes for Relief: AAA
Gasoline prices, which have been on a near-relentless surge since late 2012, may be showing tentative signs of easing, data from the AAA showed on Tuesday.
The automobile group said in its Daily Fuel Gauge report that the current national average for regular unleaded gasoline prices was $3.70, down 3 cents from last week and nearly 10 cents lower than a year ago.
That fall represented two consecutive weeks of decline, according to AAA.
Retail gas prices have eased as the price of crude has slipped in world markets. Until Tuesday, U.S. and Brent crude have fallen sharply on fears of lower demand from China, one of the world's most voracious consumers of energy.
If the fall continues, it would be some rare good news to strapped consumers, who have been battered by rising gas prices and the threat of fiscal belt-tightening in Washington.
However, the AAA survey showed that prices remain at relatively high levels. Just a month ago, the average price of gas was $3.58. Additionally, Tuesday's prices are barely 40 cents below a record high set in July 2008.