The Car and Truck Fleet and Leasing Management Magazine

Average Gasoline Price Continues to Drop

September 12, 2008

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline fell for the ninth consecutive week, dropping another 3.2 cents to $3.648 cents per gallon, the Energy Department reported on Sept. 10.

Unlike last week when prices increased slightly in the Gulf Coast and the Lower Atlantic portion of the East Coast, this week prices declined in all regions of the country, the department's Energy Information Administration (EIA) said.

The price on the East Coast fell 2.2 cents to $3.609 per gallon. The average price in the Midwest slid 3.7 cents to $3.636 per gallon. Reversing a portion of last week’s increase, the price in the Gulf Coast dipped by 2.7 cents to $3.551 per gallon, and remained the lowest average price of any region.

The price in the Rocky Mountains fell for the seventh consecutive week, dropping 4.6 cents to $3.767 per gallon. On the West Coast, the average price has now fallen for 11 straight weeks, sliding another 4.6 cents to hit $3.813 per gallon. That price has plunged 64.7 cents since its record high set on June 23, the EIA said.

Although the West Coast price remains the highest average regional price in the nation, the differential between the national average and the average price on the West Coast has narrowed by more than 21 cents since that June 23 all-time regional high. The price in California dropped 4.6 cents to $3.859 per gallon.


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