Gas prices fall 10 cents in past week to $2.62

Average retail gasoline prices in New York have fallen 2 cents per gallon in the past week, averaging $2.88 per gallon Sunday. That was 83 cents cheaper than a year ago.

Is there finally some relief at the pumps in Michigan?

Gas prices kept tumbling last week in Georgia and elsewhere, as oil price kept declining, the AAA said in its weekly fuel price briefing. A strong U.S. dollar and the oil supply glut are expected to keep downward pressure on the global price of crude oil. According to the U.S. Energy Information Administration, domestic crude inventories grew by 2.5 million barrels despite early projections that inventories would fall in light of increased demand for gasoline during the summer driving season.

The national average price of diesel was down 6 cents over the same period to $2.86 a gallon.

The lowest price reported Monday in Cartersville on AtlantaGasPrices.com was $2.43, considerably less than the state average. (Prices in South Florida typically run higher than the state average because of higher taxes.). The price for regular gas in Florida that week averaged $2.07 per gallon.

Gas prices have remained well below the average from a year ago, when a gallon cost about $3.50.