Retail Gasoline and Diesel Prices Drop
October 15, 2007
• by Staff
WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline dipped 1.8 cents the week of Oct. 8 to hit $2.770 per gallon. But that's still 50.9 cents higher than last year, the Energy Department's Energy Information Administration (EIA) reported.
All regions saw lower gasoline prices, except the West Coast where retail regular gasoline prices rose by 1.2 cents to $2.934 per gallon. The average price for regular grade in California was $2.996 per gallon, up 2.3 cents from the previous week and 39.5 cents per gallon over the previous year.
The East Coast price fell 2.0 cents to $2.746 per gallon while the Midwest price decreased 2.7 cents to $2.755 per gallon, still 60.2 cents per gallon above last year.
The region with the lowest price also tallied the largest decrease. The Gulf Coast saw prices fall 3.3 cents to settle at $2.667 per gallon. The Rocky Mountain region's price decreased 0.8 cent to $2.802 per gallon.
Retail diesel prices fell for the first time in six weeks, settling at $3.035 per gallon --- 1.3 cents under the previous week but 52.9 cents per gallon higher than last year. Regional diesel prices were mixed, with the largest increase and highest price occurring on the West Coast where the price soared 7.7 cents to $3.167 per gallon. California diesel prices were up 5.4 cents to $3.197 per gallon.
The Rocky Mountain region's average diesel price rose to $3.139 per gallon, a gain of 3.9 cents. The East Coast lost 2.1 cents to settle at $3.031 per gallon. The Midwest diesel price dropped 3.3 cents to $3.028 per gallon. The Gulf Coast was the only region below the $3 mark, landing at $2.946 per gallon.
Originally posted on Fleet Financials