US retail gasoline prices may not have peaked for spring

27 March 2013 15:27  [Source: ICIS news]

HOUSTON (ICIS)--The national average price of a gallon of retail gasoline has fallen for 22 out of the past 26 days since its 2013 peak, but prices may still climb to a new spring high, automobile organisation AAA said in its Fuel Gauge Report made available on Wednesday.

The national average price for regular unleaded gasoline is $3.67/gal, which is 2 cents/gal less than one week ago, 11 cents/gal less expensive than one month ago and 12 cents/gal lower than its 2013 peak of $3.79/gal.

“It is still too soon to say whether retail prices have peaked for the spring because there is still refinery maintenance to be completed and much of the country has yet to transition to summer-blend gasoline,” said AAA’s Michael Green.

However, AAA continues to predict that the national average will peak lower than recent years.

In comparison, the 2011 average reached a high of $3.98/gal on 5 May, and the 2012 price hit $3.94/gal on 5-6 April.

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By: Anna Matherne

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