US retail gasoline price hits fresh record highs

09 July 2008 20:25  [Source: ICIS news]

HOUSTON (ICIS news)--The US average retail price for regular gasoline hit a record high for the second consecutive week, the Energy Information Administration (EIA) in its weekly commentary on Wednesday.

The average US retail gasoline price increased 1.9 cents to $4.114/gal. EIA said retail gasoline prices rose to record highs in each region with the exception of the West coast where for the second week, the price dropped.

On the east coast, the gasoline price increased 2.2 cents to $4.079/gal, while Midwest prices went up 2.8 cents to $4.059/gal.

The Gulf coast gasoline price remained the lowest of any region, gaining 3 cents to $3.958/gal.

The price rise of 3.1 cents to $4.065/gal in the Rocky Mountains was the largest gain of any region.

In the west coast, average retail gasoline dropped 1.6 cents to $4.44/gal.

($1 = €0.64)

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By: Brian Balboa
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