Gasoline prices trend down but hurricane season looms

U.S. refineries have managed to resolve some of their early 2007 production woes, and the more plentiful gasoline supplies again helped drive retail prices lower in California and around the nation in the last week, an Energy Department report showed Monday.

Some analysts said the decline was a brief reprieve in the early weeks of what was expected to be a more-severe-than-normal Atlantic hurricane season.

But others said that prices could continue to fall an additional 12 cents to 15 cents a gallon, based on a surge of imported fuel and recent drops in wholesale prices for gasoline.

LATimes