Gasoline Prices Fall During First Week of July
WASHINGTON, D.C. --- For the sixth straight week, the U.S. average retail price for regular gasoline fell, declining 2.3 cents to $2.959 per gallon as of July 2.
Despite the price decline, the Energy Department's Energy Information Administration (EIA) reported that prices were still 2.5 cents per gallon higher than prices in the same week in 2006.
All regions reported price decreases, the EIA said. East Coast prices dropped 2.1 cents to $2.925 per gallon. In the Midwest, prices fell 1.3 cents to $2.954 per gallon, while prices for the Gulf Coast decreased 2.9 cents to $2.851 per gallon.
The largest price drop occurred in the Rocky Mountain region with prices falling 4.1 cents to $3.097 per gallon, although they remained 22.0 cents per gallon above last year. West Coast prices were down 3.9 cents to $3.106 per gallon. The average price for regular grade in California was down 3.5 cents to $3.157 per gallon.
Retail diesel prices declined to $2.829 per gallon, 0.6 cent less than last week. Diesel prices were 6.9 cents per gallon lower than at this time last year, the EIA reported. East Coast diesel prices were down 0.5 cent to $2.827 per gallon.
In the Midwest, diesel prices dropped 0.1 cent to $2.805 per gallon, while the Gulf Coast saw a dip of 1.4 cents to $2.766 per gallon. In the Rocky Mountain region, diesel prices remained unchanged at $2.936 per gallon.
The West Coast diesel average price diminished 1.3 cents to $2.972 per gallon, 8.4 cents per gallon lower than at this time last year. California prices also fell, by 0.6 cent, to $3.067 per gallon.