Gas Prices Retreat As Oil Reserves Continue To Release Supply

Even as the upcoming fourth of July weekend approaches gas prices throughout the United States have continued to retreat, reaching a $3.60 average this past Friday.

The price retreat is the fifth straight week in which prices fell, including 5% last week alone after President Obama and several other countries released 60 million barrels of oil, including approximately 30 million barrels from the U.S. Strategic oil supply, a move meant to curb financial speculation over oil prices.

The national average is down 8 cents from just one week ago and down 21 cents for the month, taking price drops to 38 cents since May.

While the prices mark a good sign for the economy, prices are still 85 cents higher than they were during the same period in 2010.