Analysts: Gas price decreases accelerating across LI, nation

The average price of regular-grade gasoline has dropped 5.7 cents per gallon in the past month to $2.83, according to motorist group AAA.

Gas prices were averaging slightly higher in Suffolk — $2.84 per gallon — than Nassau —$2.82 per gallon — as of Monday morning. 

Price drops have accelerated in the past week both locally and nationally as industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that increased refinery production and lower crude oil costs contributed to the decrease at the pump.

Nationally, gas prices averaged $2.64 per gallon of regular-grade gasoline as of Monday morning, AAA reported. That's down 5.2 cents per gallon in just the past week and down 12.7 cents per gallon in the past month. 

The highest average price in the nation is $3.63 a gallon in the San Francisco Bay Area.

The lowest average is $2.16 in Baton Rouge, Louisiana.

The average price of diesel is down 2 cents, to $3.03 per gallon.

With AP