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U.S. retail gasoline price falls to 11-week low: Government
October 5, 2009 / 9:05 PM / in 8 years

U.S. retail gasoline price falls to 11-week low: Government

WASHINGTON (Reuters) - U.S. retail gasoline prices fell to their lowest level in 11 weeks, the Energy Department said on Monday, as cheaper crude oil costs brought down pump prices.

The national average price for regular unleaded gasoline declined 3.1 cents over the last week to $2.47 a gallon, down $1.02 from a year ago, the department’s Energy Information Administration said in its weekly survey of service stations.

That is the cheapest pump price since July 20.

The fall in pump prices mirrors the recent drop in crude oil prices, which account for about 60 percent of the cost of making gasoline.

In its weekly price survey, the EIA found the West Coast had the most expensive gasoline at $2.95 a gallon, down 3.9 cents. By city, San Francisco had the highest price at $3.12, down 1.2 cents.

The Gulf Coast states had the lowest regional price at $2.29 a gallon, down 2.2 cents. Houston had the cheapest city pump price at $2.21, down 1.6 cents.

The agency also said gasoline prices were down 5.1 cents at $2.83 in Seattle; down 5.6 cents at $2.50 in New York; down 2.6 cents at $2.50 in Chicago; down 3.8 cents at $2.48 in Miami; down 3.1 cents at $2.47 in Boston; down 2.7 cents at $2.37 in Cleveland and down 4.7 cents at $2.33 in Denver.

Separately, the average price for diesel fuel fell 1.9 cents to $2.58 a gallon. That is the lowest price in nine weeks and down $1.29 from a year ago, the EIA said.

The West Coast had the most expensive diesel at $2.72 a gallon, down 2 cents. The Gulf Coast region had the cheapest diesel fuel at $2.52, down almost a penny.

Editing by Christian Wiessner

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