Retail Gas Prices Fall

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Retail Gas Prices Fall

WASHINGTON, D.C. -- U.S. retail gasoline prices continued to drop last week, according to the Energy Information Administration's (EIA) weekly survey of service stations.

The national price for regular unleaded gasoline fell three cents to $2.61 a gallon, down $1.50 a gallon from a year earlier, Reuters reported.

"Barring an unexpected supply interruption or international price shock, the June 22, price of $2.69 per gallon may be the highest weekly regular gasoline price for the summer of 2009," the agency was quoted as saying.

The average price of gasoline fell in every region of the country, and gas was most expensive on the West Coast at $2.89, down 2.3 cents from the prior week. Within the region, San Francisco had the highest big city gas price at $2.97, down one cent, according to the report.

The region with the lowest price was the Gulf Coast, which was down 5.6 cents to $2.46. Houston had the cheapest price at $2.38, down 4.6 cents, the report stated.

Meanwhile, the average price for diesel fell 1.4 cents to $2.59 a gallon, down $2.13 from a year earlier, the EIA said in its report.

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