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. Last Updated: 07/27/2016

U.S. Gas Prices Falling

NEW YORK -- The Midwest gasoline nightmare is finally fading as retailers Thursday slowly lowered their record-high pump prices in line with a downswing in wholesale costs.

Regular gasoline at several Citgo stations in Chicago fell about six cents per gallon (3.8 liters) at the pumps Thursday to under $2 a gallon for the first time in weeks, said station operators.

Wholesale gasoline prices in the U.S. heartland have slipped as much as 40 cents a gallon since Monday f correcting from runaway highs that had gas stations in Chicago, Detroit, Michigan, and Milwaukee, Wisconsin, charging as much as $2.30 a gallon.