US retail gasoline prices drop again - EIA

13 August 2008 21:56  [Source: ICIS news]

HOUSTON (ICIS news)--The US average retail price for regular gasoline has fallen for the fifth consecutive week, the Energy Information Administration (EIA) said on Wednesday.

The national average retail price for gasoline was down 7.1 cents at $3.809/gal as of Wednesday, the EIA said in its weekly commentary

The decline represented a cumulative loss of 30.5 cents from the all-time high on 7 July.

Elsewhere, EIA said the east coast gasoline price plunged 8.9 cents to $3.799/gal, the most of any region.

In the midwest, the average gasoline price was down 8.1 cents to $3.731/gal, while the Gulf coast price fell 8.1 cents to $3.685/gal, still the lowest of any region.

In the Rocky Mountain region, gasoline prices were down 5.3 cents to $3.953/gal.

The west coast price of gasoline dropped 8.3 cents to $4.057/gal, a cumulative plunge of 40.3 cents from the all-time high in the region set on 23 June.

The average national price of gasoline was $2.767/gal at this time last year, according to the travel organisation AAA.

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By: Brian Balboa
+1 713 525 2653

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