U.S. Retail Gasoline Prices Continue to Drop
The U.S. average retail price for regular gasoline fell last week for the fifth week in a row. Prices dropped by 2.1 cents per gallon as of April 21 to hit 157.4 cents per gallon, which is still 17 cents per gallon higher than a year ago. Over the last five weeks, the average price for regular gasoline has declined by 15.4 cents per gallon. The decline reflects, in part, the reduction in crude oil prices recently. Prices were down throughout the nation last week, with the exception of the Midwest, where prices rose by 0.8 cent per gallon. The region with the lowest price is the Gulf Coast, where prices for regular gasline averaged 146.0 cents per gallon, while the region with the highest price is the West Coast, where prices for regular gasoline averaged 191.2 cents per gallon April 21. Despite falling by 6.8 cents per gallon, retail prices in California remained above $2 per gallon for the eighth week in a row, decreasing to 200.9 cents per gallon.
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