US retail gasoline prices fall as summer demand dwindles

10 September 2013 20:49  [Source: ICIS news]

HOUSTON (ICIS)--The US national average price for regular unleaded gasoline at the pump is at $3.56/gal, lower than last week as the end of summer travel signals weaker demand, AAA said in its Fuel Gauge Report made available on Tuesday.

As refiners move to the cheaper-to-produce blends of gasoline in mid-September, motorists should see more declines in retail prices.

According to AAA, drivers in every state and Washington DC are paying lower prices at the pump compared to last year, but the size of the year-over-year discount varies dramatically.

The average retail price in Alaska is only fractions of a penny less expensive than the same date last year, while the price in nine states including North Carolina, Arizona, Georgia, Washington, Michigan, South Carolina, Virginia, Oregon and Illinois, is at least 30 cents/gal lower year on year.

“While this would be welcome news for motorists, the possibility does remain that escalating violence in the Middle East, hurricanes or other unexpected disruptions to supply or distribution could send prices at least temporarily higher in the coming months,” said AAA’s Michael Green.

Current average

Week-ago average

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

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By: Anna Matherne

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