US retail gasoline prices to set daily records through 2012

16 October 2012 16:31  [Source: ICIS news]

HOUSTON (ICIS)--The US national average of retail gasoline has begun to decline but prices should still set daily records through the end of 2012, motorist organisation AAA said on Tuesday.

The daily average price has been the highest on record for each calendar day for eight consecutive weeks, said Michael Green of AAA.

“While national retail gasoline prices have drifted lower in October, crude oil prices have been relatively flat. Unfortunately for some motorists, the impact of these lower crude oil prices has been outweighed by regional gasoline supply and distribution issues that have kept upward pressure on prices at the pump,” said Green in AAA’s Fuel Gauge Report. 

The national average reflects a price at the pump that is falling for the majority of American motorists, but individual states, such as Alaska, Hawaii, California, Oregon, Washington and Nevada, have had higher retail gasoline prices in the past eight weeks, according to the AAA.

Tuesday’s national average price for a gallon of regular unleaded gasoline was $3.773.  This price is nine cents less expensive than one month ago, but still 31cents more expensive than one year ago. 

Current average price

Week ago average

Month ago average

Year ago average


$3.773/gal

$3.815/gal

$3.864/gal

$3.457/gal

(Source: AAA’s national average price for regular retail gasoline.)

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By: Anna Matherne
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