The Car and Truck Fleet and Leasing Management Magazine

July 16 Report: Gas Averages $4.113 a Gallon

July 17, 2008

WASHINGTON, D.C. --- For the first time since June 23, the U.S. average retail price for regular gasoline did not increase, according to a weekly report issued by the Energy Department on July 16. 

At $4.113 per gallon, the price dipped just a tenth of a cent from the previous week, according to the department's Energy Information Administration (EIA).

On a regional basis, gasoline prices were mixed, going up in the Midwest, Gulf Coast and Rocky Mountains while dropping somewhat in the East Coast and West Coast. On the East Coast, the price dropped 0.8 cent to $4.071 per gallon. In the Midwest, the price rose 0.7 cent to $4.066 per gallon.

Despite climbing 1.3 cents to reach $3.971 per gallon, the Gulf Coast price remained the lowest of any region. The Gulf Coast continued to be the only region where the price was under $4. For the second week in a row, the price increase in the Rocky Mountains was the largest of any region, moving up 3.2 cents to $4.097 per gallon. The West Coast price dropped 2.5 cents to $4.415 per gallon. The average price in California also went down, dropping 3 cents to $4.52 per gallon, still $1.362 higher than the price a year ago.

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