Average US gasoline price drops 4 cents to $5.05 per gallon

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline fell by 4 cents in the past two weeks to $5.05 per gallon. Industry analyst Trilby Lundberg says it’s the first drop in nine weeks. She says oil prices fell sharply amid deepening global inflation fears. She also expects further drops. However, the average price at the pump as of Friday was still $1.90 higher than it was one year ago. Nationwide, the highest average price for regular-grade gas was in the San Francisco Bay Area, at $6.39 per gallon. The lowest average was in Baton Rouge, Louisiana, at $4.39 per gallon.