The Car and Truck Fleet and Leasing Management Magazine

Gasoline Prices Remain Steady

August 09, 2016

Photo via Wikimedia.
Photo via Wikimedia.

The national average price of gasoline held steady during the first week of August near the $2.15 level, as abundant supplies continue to keep the price lower.

The national average price fell nine-tenths of a cent to $2.15, according to data from the U.S. Energy Information Administration. AAA's price reached $2.12, which was the lowest of any Aug. 8 since 2004 and 26 cents below 2016's peak price to date of $2.40 on June 11.

Gasoline prices reversed their recent slide in part due to a supply decline of 3.3 million barrels since April, the U.S. Department of Energy reported. A decline in prices in 38 states this week was offset by increases in several Midwestern states, reported AAA.

Among the regions, the Midwest saw the sole increase with a 4-cent gain to $2.115, as reported by the administration. The West Coast declined 4.1 cents to $2.573, while New England declined 4.3 cents to $2.125.

Meanwhile, the average price of diesel increased 3.2 cents to $2.316. Diesel is now 30.1 cents lower than a year ago, reported the administration.

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