For the third consecutive week, the nation's average gasoline price has fallen, declining 7.5 cents from a week ago to $3.50 per gallon. The national average is down 7.5 cents from a month ago and 80.7 cents per gallon lower than a year ago. The national average diesel price declined 6.3 cents in the last week to $4.01 per gallon, $1.51 lower than one year ago. GasBuddy's Patrick De Haan says, “In addition to gasoline prices declining, the average price of a gallon of diesel will join gasoline in the days ahead, falling below $4 per gallon.” De Haan attributes the decline partly due to oil prices holding near recent lows and the transition to summer gasoline being essentially complete. The debt ceiling concerns have also hit oil markets and remain a threat moving forward, should lawmakers approve a solution to the looming potential shutdown of the U.S. government, oil prices may see a stronger rally.
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