GAITHERSBURG, MD - Spot prices for gasoline and diesel in key U.S. market are expected to drop more than 35 cents per gallon below June highs in many cases, according to the Oil Price Information Service (OPIS).

OPIS reports cash prices that haven't been witnessed since May, with spot unleaded gasoline pegged just above $1.70 per gallon. The Los Angeles market, which peaked at $2.2449 per gallon on June 11, is now pegged no better than $1.84 per gallon, OPIS reports.

Similarly, OPIS said diesel prices are well off of late second quarter highs with ULSD worth $1.65-$1.68 per gallon in most east of the Rockies spot markets.