National gas prices dropped a penny per gallon in the last week to $2.76 per gallon--about 81 cents per gallon cheaper than one year ago.
GasBuddy’s senior analyst Patrick DeHaan says hikes at the pump are beginning to cool with prices declining in all but 15 states.
That's because refinery issues are the primary catalyst for price increases. DeHaan says decreases could be coming in the weeks ahead because oil prices are nearing $50 per barrel. Prices at the pump may even drop below two dollars per gallon by mid-fall.