Gas prices finally give, oil prices dip

Retail gasoline prices retreated Monday for the first time in nearly two months and benchmark crude prices tumbled about 4 percent.

The World Bank said the global economy would shrink more than previously stated and burgeoning supplies of crude and gasoline finally appeared to grab hold of energy prices that since early May have appeared to shake off market fundamentals.

Benchmark crude for July delivery dropped $2.62 to settle at $66.93 on the New York Mercantile Exchange. The July contract expires later Monday, and most of the trading already has shifted to the August contract, which lost $2.52 to settle at $67.50.

Average retail gasoline …