Starting in mid-May, prices had soared by 28 cents or more in those states before the recent downward trend. The national average for regular gas reached a calendar year high of $2.39 a gallon on June 11. In 2015, the peak price for regular gas was $2.81 a gallon on June 14.
The national average price for regular gas is 47 cents lower than a year ago, and around $1.35 less than at this time in 2013 and 2014. AAA said it is the lowest for this time of year since 2005, and that an ample supply of oil and lower global prices are offsetting record demand for gasoline in the U.S.
"Pump prices generally peak during the summer months, due to imbalances in supply and demand," AAA said in a statement. "Unlike many recent years, supply appears to be meeting the growing demand, and as a result prices have held relatively steady and are markedly lower than one year ago."
Read More at Cars.com