New York (CNN Business) Here's some good news for drivers in the United States: Gasoline could fall below $2 a gallon for many Americans later this year.

Retail gas prices have been falling steadily for several weeks now. The national average currently stands at $2.72 a gallon for regular gas, according to AAA, down 17 cents from the 2019 high in early May and down 7 cents in just the past week.

Wholesale prices are falling even faster, suggesting that prices at the pump should continue to fall.

"Pretty much every portion of the country should see drops between now and the end of next week," said Tom Kloza, head of energy analysis for the Oil Price Information Service.

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