WASHINGTON D.C. -- The U.S. average retail price for regular gasoline dropped by 10.4 cents to 237.6 cents per gallon, falling for the fifth straight week, according to the U.S. Energy Department.
Over the past five weeks, retail prices have dropped a total of 55.2 cents per gallon. This week’s price, however, is still 37.5 cents higher than this time last year.
Prices fell nationwide, with the Rocky Mountain region seeing the largest regional decrease of 12.2 cents to 246.4 cents per gallon. The Midwest had the lowest regional price in the country, falling 9.5 cents to 223.1 cents per gallon.
East Coast prices fell by 10.9 cents to 239.6 cents per gallon. The West Coast averaged 262.3 cents per gallon, the highest regional average price in the country, after falling 8.9 cents. California prices lost 8.8 cents to 265.9 cents per gallon, the Energy Department's Energy Information Administration reported.
Retail diesel fuel prices tumbled 17.8 cents to reach 269.8 cents per gallon -- the lowest price since Aug. 29. Over the past two weeks, the U.S. average retail diesel price has plummeted 45.9 cents per gallon -- the largest two-week decline on record.
Retail diesel prices were down throughout the country last week, with the Midwest seeing the largest regional decrease of 23.6 cents to 267.1 cents per gallon. The highest regional average price in the country was in the Rocky Mountain region, falling 17.2 cents to average 290.7 cents per gallon. East Coast prices were down 12.7 cents to 265.7 cents per gallon, the lowest regional price in the nation. West Coast prices averaged 282.1 cents per gallon, a decrease of 13.0 cents.
Originally posted on Fleet Financials