Survey shows US gas prices down 27 cents a gallon over past 3 weeks; lowest price in 5 years

IndustriesAssociated Press

The average price of regular gasoline nationwide has dropped 27 cents a gallon in the past three weeks, to $2.20.

Industry analyst Trilby Lundberg says it's the lowest in more than five years and more drops are possible, although probably not as steep.

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Lundberg said Sunday that lower crude oil prices are driving prices down, along with an abundant oil supply.

The highest-priced gas in the Lower 48 states was found in San Francisco, at $2.66 a gallon. The lowest was in Albuquerque, New Mexico, at $1.76 a gallon.

California's lowest average was in Sacramento, at $2.42 a gallon.

The average price for midgrade gas in the U.S. is $2.44. For premium it's $2.61.