October 03, 2008

Gasoline Prices Drop Again

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WASHINGTON, D.C. --- For the second week in a row, gasoline prices dropped in all regions of the U.S., the Energy Department's Energy Information Administration (EIA) reported Wednesday, Oct. 1.

The U.S. average price fell 8.6 cents to $3.632 per gallon -- more than 48 cents below the all-time high set on July 7. The average price on the East Coast slipped 5.7 cents to $3.664 per gallon.

Prices plunged in the Midwest, dropping 14.5 cents to hit $3.609 per gallon. The price on the Gulf Coast tumbled 7.8 cents to $3.60 per gallon. For the tenth consecutive week, the price in the Rocky Mountains declined, dropping 5.1 cents to $3.60 per gallon and tying with the Gulf Coast for the lowest average price among the five regions.

Dropping for the 14th straight week, the price on the West Coast slipped another 5.1 cents to reach $3.642 per gallon. The price in California went down 5.5 cents to $3.67 per gallon.

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