US average retail price for gasoline fell US$0.08 in latest week to US$3.49/gallon; price has fallen US$0.36/gallon in last four weeks; diesel fuel price fell US$0.02 to US$4.01/gallon: EIA

WASHINGTONU , November 7, 2012 (press release) – The U.S. average retail price of regular gasoline decreased eight cents last week to $3.49 per gallon, seven cents per gallon higher than last year at this time. The average U.S. retail price has decreased 36 cents per gallon over the last four weeks. Prices again fell in all regions of the nation, with the largest decrease on the West Coast, where the average price is down 15 cents to $3.90 per gallon. The last time the West Coast price was below $4 per gallon was the week of August 13, 2012. The Midwest and Gulf Coast prices were both down seven cents, to $3.32 per gallon and $3.27 per gallon, respectively. The East Coast price is now $3.53 per gallon, a decrease of six cents from last week, and the Rocky Mountain price decreased four cents to $3.61 per gallon.

The national average diesel fuel price decreased two cents to $4.01 per gallon, 12 cents per gallon higher than last year at this time. The diesel price fell in all regions of the Nation for the third consecutive week, with the largest decrease coming in the Rocky Mountain region, where the price fell four cents to $4.16 per gallon. The West Coast price is down three cents to $4.15 per gallon. East of the Rockies, the Midwest and Gulf Coast are now $3.96 per gallon and $3.92 per gallon, respectively, a decrease of 2.5 cents from last week in both regions. On the East Coast, the price fell a fraction of a penny to $4.03 per gallon.

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