Fuel Continues Post Labor Day Decline

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Fuel Continues Post Labor Day Decline

WASHINGTON -- Retail gasoline prices fell for the fourth consecutive week, dropping 5.4 cents to an average of $1.64 per gallon, the government said Monday. The national average price for regular unleaded gasoline has declined since hitting a record high $1.747 a gallon during the Labor Day holiday.

Prices remain 24.8 cents a gallon higher than one year ago, according to a weekly survey of service stations by the Energy Department's Energy Information Administration.

The average national gasoline pump price is not expected to fall below $1.50 a gallon until November, the EIA said. The average U.S. pump price was the highest on the West Coast where prices fell 6.1 cents to an average of $1.92 per gallon. The U.S. Gulf Coast continued to have the cheapest gasoline last week with the retail cost falling 3.8 cents to $1.50 a gallon.

Among the major urban areas highlighted by the EIA, Houston pump prices were the cheapest at $1.48 per gallon, down 3.6 cents. San Francisco was the most expensive city even though prices fell 6.3 cents to $2.05 per gallon. Los Angeles had the second most costly gasoline prices at $2.01, down 5.2 cents.

The national price for cleaner-burning reformulated gasoline, sold at about one-third of the gas stations in cities and smoggier areas, fell 4.8 cents to $1.78 a gallon.

U.S. diesel prices fell 2.7 cents to an average $1.44 per gallon last week, the EIA said. The average cost for a gallon of diesel is 2.7 cents per gallon more expensive than one year ago.