The average price of gas in the region slipped down a penny overnight, according to AAA Mid-Atlantic.

The average for a gallon of regular no-lead stood at $2.68 this morning in the five-county Philadelphia area; in South Jersey, the average was $2.44.

The national average was $2.59, also down 1 cent from yesterday.

The diesel average was unchanged in the Philly area, at $2.81. It was down 1 cent, to $2.48, in South Jersey, with the national average also down 1 cent, to $2.61.

Meanwhile, oil prices slumped below $62 per barrel as the government reported that unused gasoline held in storage surged yet again. Retail gas prices have fallen every day for more than two weeks.

Energy markets are undergoing an extended sell-off, the longest this year, with new economic reports dampening optimism about any economic recovery.

Benchmark crude for August delivery fell $1.39 to $61.54 on the New York Mercantile Exchange. In just over one week, oil prices have fallen more than 15 percent.

Also today, the Organization of Petroleum Exporting Countries predicted that demand for crude has fallen so sharply that it will take four more years to recover to 2008 levels.