July 23 Report: Retail Gasoline Price Drops Nearly 5 Cents

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline dropped 4.9 cents to $4.064 per gallon last week, the Energy Information Administration (EIA) reported July 23.

This marked the second week in a row that the U.S. average price did not increase. Prices dropped in all regions except the Rocky Mountains.

On the East Coast, the price dropped 2.7 cents to $4.044 per gallon. The price dropped the most in the Midwest, going down 8.5 cents to $3.981 per gallon. This was the first time since June 23 the Midwest price slipped below $4.00 per gallon.

Decreasing 2.9 cents, the Gulf Coast price remained the lowest of any region at $3.942 per gallon. The price in the Rocky Mountain region moved up eight-tenths of a cent to $4.105 per gallon.

The West Coast price slipped 5.2 cents to $4.363 per gallon. The average in California also went down, dropping 6 cents to $4.46 per gallon, still $1.342 higher than the price a year ago, the EIA said.

For more up-to-date prices, check the EIA price chart released July 28 --- it's featured in the current issue of Fuel News.