Gas prices hit seven-week low

In the past two weeks, U.S. gasoline prices have dropped significantly. As of last Friday, cost per gallon ended lower than expected with the U.S. crude oil hitting seven-week lows.

This is exciting news for commuters and travelers. The average price fell to $3.9959 per gallon which is 12 cents lower than two weeks ago.

Trilby Lundberg, an oil-industry analyst who surveyed 7,000 stations nationwide, remarks, "The crude oil market has imposed a down price correction on itself, and this oil price slide is rapidly being translated into a gasoline price correction.

According to the report, the sharp gasoline price drop is partially because of a report saying OPEC's oil output is expected to rise significantly in July due to higher supplies from Iraq and Saudi Arabia.