CORRECTED: US retail gasoline prices expected to fall in colder temperatures

07 January 2014 17:18  [Source: ICIS news]

Correction: In the ICIS story headlined "US retail gasoline prices expected to fall in colder temperatures" dated 7 January 2013, please read in the first paragraph ... "a penny lower" ... instead of ... "a penny higher". In the third paragraph, please read ... "The slight decrease comes" ... instead of ... "The jump comes". A corrected story follows:

HOUSTON (ICIS)--The national average price for a gallon of gasoline at the pump is at $3.31/gal, just a penny lower than one week ago, AAA said in its Fuel Gauge Report made available on Tuesday.

Prices in every state and Washington, DC, are higher than two weeks ago, including some where prices are more than 10 cents/gal higher, according to AAA.

The slight decrease comes despite recent refinery issues in the Midwest, but as these resolve and refineries produce more gasoline, prices should decline.

Furthermore, a drop in gasoline demand will come this week as colder weather will keep drivers off the road and away from the pumps through most of the country.

“Recent cold temperatures in much of the country have been seen as potentially decreasing demand for gasoline but increasing demand for heating oil, with a net impact on prices still difficult to determine,” said AAA’s Michael Green.

Current average

Week-ago average

Month-ago average

Year-ago average

$3.31

$3.32

$3.26

$3.30

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

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By: Anna Matherne
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