Tags: gasoline | pump | prices | oil

US Gasoline Pump Prices Decline to $3.819 a Gallon

Tuesday, 16 Oct 2012 09:10 AM

Gasoline at U.S. pumps dropped after California regulators took measures to address shortages of the motor fuel that drove retail prices in the state to a record earlier this month.

The national average price for regular gasoline declined 3.1 cents to $3.819 a gallon from a week earlier, the U.S. Energy Information Administration said in a report posted on the agency’s website. The price was $3.476 a year ago, department data show.

Regular gasoline in California fell 3.6 cents a gallon to $4.623, the Energy Department said. Prices reached a record high of $4.671 in the state on Oct. 9, according to AAA, the nation’s largest motoring organization. A shortage of the fuel in California markets prompted state regulators last week to permit refineries to make gasoline with higher vapor pressure, allowing them to produce more by adding butane to the mix.

Retail gasoline dropped in all regions of the U.S. this week except on the Gulf Coast, where prices climbed 0.7 cent to $3.544 a gallon, the Energy Department said.


© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Economy
Gasoline at U.S. pumps dropped after California regulators took measures to address shortages of the motor fuel that drove retail prices in the state to a record earlier this month.
gasoline,pump,prices,oil
171
2012-10-16
Tuesday, 16 Oct 2012 09:10 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved