The Car and Truck Fleet and Leasing Management Magazine

Gasoline Price Falls Below $4

August 03, 2008

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline continued to slip below its all-time high set July 7, weakening an additional 10.9 cents to $3.955 per gallon, according to a federal report released July 30.

This was the third consecutive week in which the U.S. average decreased and the first time in eight weeks that the average price fell below $4 a gallon, according to the weekly report from the Energy Department's Energy Information Administration (EIA).

On the East Coast, the price dropped 8.4 cents to $3.96 per gallon. For the second week in a row, the price in the Midwest went down more than in any other region, plummeting 15.4 cents to $3.827 per gallon; it is now the lowest of any region.

The Gulf Coast price declined 8.5 cents to $3.857 per gallon. The price in the Rocky Mountain region decreased the least of any region, falling 4.5 cents to $4.06 per gallon. The West Coast price moved 11.8 cents lower to $4.245 per gallon. The average in California dropped 14.3 cents to $4.317 per gallon.

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