CAMARILLO, Calif. (November 19, 2012)--The average U.S. price of a gallon of gasoline has dropped 7 cents over the past two weeks, to the latest Lundberg Survey of fuel prices, which puts the price of a gallon of regular at $3.47.

Midgrade costs an average of $3.65 a gallon, and premium is $3.78.

Diesel dipped 4 cents to $4.04 a gallon.

Of the cities surveyed in the lower 48 states, Memphis, Tenn., has the nation's lowest average price for gas at $3.04 while Long Island, N.Y., has the highest at $4.18.

In California, the lowest average price was $3.59 in Sacramento and the highest was $3.83 in Bakersfield.

The average statewide for a gallon of regular was $3.77, down 21 cents.