The declining prices of crude oil and ethanol combined with rising gasoline supplies have brought a bit of welcome relief at the pump as the summer driving season draws to a close.
Average gas prices have dropped about 15 cents in the past two weeks, to $2.87 per gallon nationwide and $2.99 in the Washington metropolitan region. The gasoline monitor surveys more than 6,000 stations nationwide every two weeks.
The decline, based on a survey , is the largest drop since November, when prices fell 18 cents after the price increases that followed hurricanes Katrina and Rita.
In recent weeks, ethanol prices have dropped to about $2.30 a gallon. Worries over supply have largely subsided as oil companies have made the transition.
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