Gasoline & Diesel Prices Fall Further

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Dropping for the third week in a row for a cumulative decline of nearly $0.18, the U.S. average price for regular gasoline fell six cents last week to $2.73 per gallon. The price was $0.20 higher than last year at this time. Prices fell in all regions of the country, with the largest drops taking place on the East Coast and in the Midwest where the averages fell about seven cents to $2.72 per gallon and $2.63 per gallon, respectively. The Gulf Coast average dropped over five cents to $2.64 per gallon and the Rocky Mountain price went down three and a half cents to $2.82 per gallon. Falling three cents to $2.98 per gallon, the average on the West Coast slipped below $3.00 for the first time since March 8, 2010. The average in California also dipped three cents to settle at $3.02 per gallon.

Falling below the $3 mark for the first time since March 29, the national average price for diesel fuel decreased four cents to $2.98 per gallon. The price was $0.63 cents above the average price a year ago. Prices fell in all regions of the country. The price on the East Coast slipped three cents to $3.01 per gallon. The averages in the Midwest, the Rocky Mountains, and the West Coast each fell about a nickel to $2.94 per gallon, $3.06 per gallon, and $3.08 per gallon, respectively. The average on the Gulf Coast slid four cents to $2.94 per gallon. In California, the average fell seven cents to $3.09 per gallon.

Source: U.S. Energy Information Administration



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