After nearly two months on an upward path, the price of gasoline fell last week, virtually guaranteeing that holiday travelers will not spend nearly as much for fuel as they did at this time last year.

In July 2008, gasoline was $4 or more per gallon in much of the country. Yesterday, according to the AAA auto club, the nationwide average was $2.64 a gallon. Despite the lower gas price, the agency predicts a slight decrease in the number of travelers on the road this year, 32.6 million compared with 33.4 million last year. Of course, the recession is a factor in travel plans this year.

In a survey by Information Resources Inc. nearly half -- 49 percent -- of respondents said gas prices would influence their decision to travel this summer, and a third said they would be going on only short day trips.

Before last week's decline, the price of gasoline had risen for 54 straight days, following the path of oil prices.

"I think we've peaked with gasoline prices at least, but that assumes that nothing major is going to happen over there," said Tom Kloza, publisher and chief oil analyst at Oil Price Information -- "over there" being a reference to Iran, where tensions continue to run high in the wake of a disputed election.

An eight-month uptrend added 85 million barrels to oil supplies between September and May. Since then, oil in storage has dropped somewhat, but it is still at one of the highest levels since the early 1990s.

Despite the surplus, investors have snapped up crude barrels during the past few months to protect themselves from a weaker dollar, helping oil prices to rise to eight-month highs.

Political turmoil in Iran also continued to pressure oil prices. A conflagration there could affect millions of barrels of exports in the Persian Gulf.

"Iran is a real wild card," Mr. Kloza said.

Meanwhile, unrest in Nigeria, another major oil producer, helped to push oil prices above $71 yesterday, as militants damaged and partly shut down an offshore oil platform belonging to Royal Dutch Shell PLC.

Previous attacks on infrastructure in Nigeria's restive southern oil region have trimmed the country's output by about 25 percent.

Contracts for August delivery closed at $71.49 per barrel yesterday on the New York Mercantile Exchange.

While gasoline prices may have peaked, elevated oil prices mean that they also are not likely to fall dramatically, said Jeff Lenard, spokesman for the National Association of Convenience Stores, the trade group for the independently owned convenience stores that also make up the majority of gasoline stations.

"As much as consumers would love see $2.50 a gallon, that's not going to happen this year," he said.

The Energy Information Administration would seem to agree. The agency projects that holiday travel will help the price of gasoline to peak near $2.70 per gallon in July, and has revised its estimate for the average price for the year upward by 21 cents, to $2.33.