After eight weeks of pumping higher, gasoline prices finally edged down last week to $1.13 a gallon, says the US Department of Energy.
Gasoline prices in the DOE's nine-year survey reached a record low of 90.7 cents a gallon on Feb. 22, and then climbed steadily as oil-producing nations agreed to reduce their oil output by 2.1 million barrels a day.
That agreement hit California motorists hardest. Average price for unleaded was $1.64 per gallon.
The recent drop in fuel prices should be short-lived, however, as the DOE is forecasting summer gasoline prices will peak in May at $1.18 a gallon and then average $1.13 for the season.
US average gasoline pump prices
Feb. 22, 1999 90.7
April 18, 1999 1.14
Source: US Department of Energy