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If you're lucky enough to live in some parts of the United States, you may see gas pump prices fall to around $3.25 a gallon or less in the next week or two. Even West Coast drivers should get some relief from prices that are still above $4 a gallon.
Retail gasoline prices dropped by a penny to a national average of $3.71 per gallon on Friday. That's 22 cents less than the high of $3.94 per gallon reached in early April. Lower oil prices are the main reason. Weaker demand is also helping to push down prices, as consumers watch their spending in the sluggish economic recovery.
Motorists on the West Coast, in Illinois and New York are paying the most for gas - from $3.83 per gallon to $4.54 per gallon - according to AAA, Wright Express and the Oil Price Information Service. The lowest prices, from $3.39 to $3.51 per gallon, were in the South and parts of the Midwest.
Prices should continue to decline heading into the Memorial Day. The national average is expected to be around $3.60 per gallon for the long holiday weekend, but a smattering of cities may see prices much lower.
Some drivers already pay 30 to 40 cents less than the national average. That's because the gasoline they buy is refined from oil produced in the Gulf Coast region, where prices are among the lowest in the country, Kloza said.
For example, the average price on Friday was $3.34 per gallon in Greenville, S.C.; $3.39 in Little Rock, Ark., and $3.43 per gallon in Amarillo, Texas.