Retail Gasoline and Diesel Prices Decline
January 28, 2008
• by Staff
--- The U.S. average retail price for regular gasoline fell to $3.017 per gallon, as of Jan. 21. That's 5.1 cents lower than the previous week but 85.2 cents above a year ago, the Energy Department's Energy Information Administration (EIA) reported last week.
All regions showed price drops, with the East Coast price losing 4.6 cents to settle at $3.062 per gallon. The Midwest price fell 5.2 cents to $2.958 per gallon, 96.6 cents per gallon more than last year.
The lowest regional price occurred in the Gulf Coast. The price there decreased 5.3 cents to $2.904 per gallon. The Rocky Mountain price declined 2.1 cents to settle at $2.928 per gallon.
The West Coast continued to have the highest regional price, but tallied the largest regional decrease, 5.9 cents, to drop to $3.155 per gallon. The average price for regular grade in California dropped to $3.226 per gallon, 6.4 cents less than the previous week.
The average retail diesel fuel price decreased 5.6 cents to $3.270 per gallon, 84.0 cents higher than the same period last year. All regional diesel prices were lower, with the East Coast down by 4.8 cents to settle at $3.343 per gallon --- the highest regional price.
New England was the only area with diesel prices above $3.50, as the price fell slightly to $3.594 per gallon. The Midwest saw diesel prices decrease 6 cents to $3.228 per gallon.
The Gulf Coast had the lowest regional diesel price, declining 4.4 cents to $3.222 per gallon. The Rocky Mountain price was reduced by 3.2 cents to settle at $3.229 per gallon. The West Coast diesel price plunged 9.3 cents to $3.327 per gallon. California diesel prices tumbled 9.9 cents to $3.360 per gallon.
Originally posted on Fleet Financials