"Weekend Gas Prices Drop, but Iraq Crisis Is a Threat"

"HOUSTON — Gasoline prices are drifting lower just in time for the Fourth of July weekend, although they remain at the highest levels for this time of year since 2008 mainly because of the crisis in Iraq.

Drivers on Thursday were paying on average $3.66 a gallon, according to the GasBuddy website, two cents lower than the average a week ago, as global oil prices have begun to slip. The average national gasoline price is almost exactly what drivers paid on the Memorial Day weekend when the summer driving season began.

“If you see street prices change between now and Sunday, people will probably be surprised to see them slip by a penny or two per gallon,” said Tom Kloza, chief oil analyst for GasBuddy."

Clifford Krauss reports for the New York Times July 3, 2014.

Friday, July 4, 2014