US Midwest gasoline prices continue to fall from near-high records

18 June 2013 21:44  [Source: ICIS news]

HOUSTON (ICIS)--The national average price for retail gasoline in the US is at $3.61/gal, 2 cents/gal less expensive than one week ago but 10 cents/gal more expensive year on year, US automobile organisation AAA said on Tuesday.

Last week, the focus of a higher national average came on sharp increases in the Great Lakes region because of consistently low supplies and transportation challenges for wholesale gasoline into the Chicago market in Illinois caused by refinery maintenance.

But, as a few refineries came back online and production levels returned to normal, price relief in these states was likely, the AAA said in its weekly Fuel Gauge Report.

“This prediction held true as these same states have seen prices more than reverse course over the last week,” said AAA’s Michael Green.

National gasoline markets in recent months have been driven by regional supply and production issues rather than by the price of West Texas Intermediate (WTI) crude oil, which has traded in a narrow range.

“At the same time, regional gasoline production and distribution concerns have eased and retail prices have inched lower,” Green said.

Current average

Week-ago average

Month-ago average

Year-ago average

$3.61

$3.63

$3.65

$3.51

Prices are the US average per gallon of regular unleaded retail gasoline

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By: Anna Matherne
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