Average pump prices—$2.04 a gallon Thursday—are now down more than 40% since last June, when they stood near $3.68 a gallon, according to the auto club AAA. Gas prices are below $2 a gallon in 27 states. Since 1980, gas
Retail gasoline prices often fall as summer vacation winds down, but the speed and size of the recent decline underscore shifts in energy markets that many analysts expect to be lasting. U.S. gasoline output climbed above 10 million barrels a
October supplies of gasoline are at a three-year high for that month, but refiners are still running at high speed because they are earning fat profits exporting diesel, which is made using the same process that converts oil to gasoline.