Thursday, July 17, 2008

Gas prices dropped 1/10%! Back to our SUVs!

Of course, prices are still well over $4 a gallon.

From the nicely-written This Week in Petroleum:

For the first time since June 23, the U.S. average retail price for regular gasoline did not increase; at 411.3 cents per gallon, the price dipped just a tenth of a cent. On a regional basis, prices were mixed, going up in the Midwest, Gulf Coast, and Rocky Mountains while dropping somewhat in the East Coast and West Coast. On the East Coast, the price dropped 0.8 cent to 407.1 cents per gallon. In the Midwest, the price rose 0.7 cent to 406.6 cents per gallon. Despite going up by 1.3 cents to 397.1 cents per gallon, the Gulf Coast price remained the lowest of any region and continued to be the only region where the price was under $4. For the second week in a row, the increase in the Rocky Mountains was the largest of any region, moving up 3.2 cents to 409.7 cents per gallon. The West Coast price dropped 2.5 cents to 441.5 cents per gallon. The average in California also went down, dropping 3 cents to 452 cents per gallon, still 136.2 cents higher than the price a year ago.

For the second week in a row, the U.S. average retail diesel price increased. The price strengthened 3.7 cents to another all-time high of 476.4 cents per gallon. The prices rose to new record highs in all five regions. The average price on the East Coast increased 3.3 cents to 482.2 cents per gallon. The price in the Midwest remained the lowest of any region at 469.8 cents per gallon, an increase of 4.4 cents. The average price in the Gulf Coast rose 4 cents to 473.7 cents per gallon. The Rocky Mountains had the largest rise of any region, jumping 4.6 cents to 471.8 cents per gallon. On the West Coast, the average price moved 2.3 cents higher to 490.9 cents per gallon. In California, the average price also increased, going up 2.5 cents to 502.6 cents per gallon.

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