After reaching its highest point in six months in early May, the price of gasoline is showing signs of leveling off, ending the steep climb that raised the average price of gasoline as the spring driving season picked.
The price of gasoline at the pump declined slightly during the past week, according to the AAA. The group also said it is possible that prices have begun to stabilize as refineries increase production to meet record-high demand.
The average price of $2.21 per gallon represents an increase of 17 cents per gallon on the month, and prices have moved higher for 23 of the past 31 days. (more…)