Oil and Gas

Average US price of gas drops 12 cents per gallon to $2.72

Key Points
  • The average U.S. price of regular-grade gasoline has dropped 12 cents a gallon over the past two weeks, to $2.72.
  • The average gas price is 11 cents per gallon higher than it was a year ago.
A gas station raising prices in Kensington, Maryland.
Matt Cuddy | CNBC

The average U.S. price of regular-grade gasoline has dropped 12 cents a gallon over the past two weeks, to $2.72.

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 is 11 cents per gallon higher than it was a year ago.

The highest average price in the nation is $3.77 a gallon in Honolulu. The lowest average is $2.19 in Tulsa, Oklahoma.

The average price of diesel fell 4 cents over the past two weeks, to $3.27.

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Key Points
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  • The utility is facing investor concerns over its possible role in the deadly Camp Fire in Northern California.
  • The incident report, which was filed on Friday with the safety division of the California Public Utilities Commission (CPUC), said a line near the area of Concow in Butte County suffered an outage at 6:45 a.m. on Nov. 8.