over the past month and are poised to fall further over Memorial Day weekend as millions of travelers hit the road.
On Friday the national average for gasoline stood at $3.61 per gallon, down $0.05 from one month ago, according to"Retail ultimately follows wholesale and wholesale prices have been slipping well below the numbers seen in the last 3-6 weeks," Kloza said.The analyst points out the price of gasoline on the wholesale market has been sliding because of the perception that oil supply is slightly outpacing demand.
The measure could have a limited impact on prices since on average the US consumes roughly 9 million barrels of gasoline per day, says Kloza.amid increasing diplomatic efforts towards a cease fire in the Middle East. Wavering sentiment over expectations for a rate cute from the Federal Reserve also put a lid on crude prices.
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