Retail Gasoline Prices Fall
December 10, 2007
• by Staff
--- The U.S. average retail price for regular gasoline fell for the third straight week, dipping 3.6 cents to settle at $3.061 per gallon as of Dec. 3. But that price is still 76.4 cents above a year ago, the Energy Department's Energy Information Administration (EIA) reported in its weekly report last week.
All regions recorded a price decrease, with the East Coast price dipping 1.9 cents to hit $3.073 per gallon. The largest drop occurred in the Midwest, where the price fell 6.4 cents to $2.995 per gallon. The Gulf Coast was lower by 3.1 cents to $2.935 per gallon. A decrease of 0.9 cent in the Rocky Mountain region sent the price to $3.054 per gallon.
The average price on the West Coast, although 2.9 cents less than the previous week, was still the highest regional price in the country at $3.276 per gallon. The average price for regular grade in California was $3.361 per gallon, down 3.7 cents from the previous week but 86.5 cents per gallon more than last year.
The retail diesel fuel price declined to $3.416 per gallon, retreating by 2.8 cents from the previous week but 79.8 cents more than last year. The week's price was still the third highest ever recorded.
Regional diesel prices dropped across the country. The East Coast's average diesel price decreased 0.9 cent to $3.444 per gallon. The Midwest diesel price fell to $3.385 per gallon, 3.8 cents under the previous week.
The Gulf Coast's average diesel price lost 1.5 cents per gallon to hit $3.345 per gallon. The Rocky Mountain region diesel price tumbled 4.0 cents to $3.487 per gallon. The West Coast recorded the largest decrease, plummeting 5.5 cents to hit $3.532 per gallon. California prices declined 5.3 cents to fall to $3.567 per gallon.
Originally posted on Fleet Financials