Retail gasoline prices have moved steadily lower despite geopolitical tensions thanks in part to high U.S. oil production, motor club AAA reports. AAA reports a national average price of $3.03 per gallon, the lowest national average price in nearly four years and more than 30 cents less than one month ago . Crude oil prices represent about 60 percent of the price at the pump. Both prices would typically rise because of heightened tensions overseas. “Continuing unrest in Iraq and geopolitical tensions in Eastern Europe have taken a backseat to an emerging belief by many market watchers that global supply, including significantly higher oil production in the United States, is outpacing global demand growth,” the motor club said in a Monday report. The United […]