…and falling and ….:
WASHINGTON – For the sixth straight week, average retail gasoline prices have dropped nationwide, falling below $2.30 a gallon for the first time since early August.
The federal Energy Information Administration said Monday that U.S. motorists paid $2.296 cents a gallon on average for regular grade last week, a decline of 8 cents from the previous week. Pump prices are still 32.7 cents higher than a year ago.
Average retail prices peaked at $3.07 a gallon in early September, a reflection of the extreme tightness in the market following Hurricane Katrina, which knocked out refineries in the Gulf region, as well as pipelines that deliver fuel to the East Coast and Midwest. Prices have since retreated because of the recovery of oil production and refining facilities, increased imports from Europe and a slight moderation of demand.
No doubt they will rise a bit next week, just in time for the Thanksgiving holiday. The low price I’ve seen in my area is $2.34. How about you?
BTW, dunno about ya’ll, but I am very much looking forward to next week’s holiday … can’t get here soon enough as far as I’m concerned!
Reminder: Don’t forget you still have time to vote for yours truly in Aaron’s “Deck O’ Bloggers – Heart suit” competition. Click here, look to the left and scroll down a bit and you’ll see my name listed. I must finish in the top 11 to make the deck. You have until 11 AM EDT Tuesday to vote … the sooner the better, though Thanks in advance!