According to the Sunday-released statistics from the Lundberg Survey, the last two weeks witnessed a 3.2-cent fall in the average price for a gallon of regular gasoline in the US; with the drop in the gas prices over the last one month being almost 9 cents.

Highlighting the average gas price figures for the US, Lundberg Survey's editor Trilby Lundberg revealed that, on March 22, the average gas price in the country was $3.7074 per gallon; which marked a fall over the March 8 price of $3.7394 per gallon. The decline in the average gas price on March 8 was the year's first fall.

In the nine-week period through February 22, there was an over 53-cent increase in retail gasoline prices; but, the last four weeks have seen an 8.76-cent fall in the prices. The recent fall is apparently a reflection of lower Brent crude oil prices, and also the completion of several maintenance and repair projects by refiners.

Noting that the present gas price in the country is "encouraging as a form of discount to the consumer," Lundberg said that the current price in the survey was 22.23 cents lower than the year-back price of $3.9297 per gallon.

Projecting a further fall in US average gas price in the coming weeks, Lundberg said: "It seems fairly likely we will see a bit more price-cutting at the pump, another drop from here in the next few days of a similar (3.2 cents) amount."