Average gasoline price drops below $4

05/18/2011 | Wall Street Journal, The

Gasoline prices in the U.S. have fallen, on average, from $4 a gallon to $3.93 on Wednesday, according to the AAA Daily Fuel Gauge, though up nearly $1 from a year ago. The decline is being credited to diminishing fears over turmoil in Middle Eastern countries. "The market went up too much because people were scared of the Middle East," said David Wyss, chief economist at Standard & Poor's. "People are still scared of [the] Middle East, but less than they were a few weeks ago."

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