Tags: gasoline

US Gasoline Price Falls 4 Cents a Gallon in Week

Monday, 30 April 2012 05:43 PM

U.S. gasoline prices fell 4 cents in the past week, the U.S. government said on Monday, ta king some of the heat off lawmakers to act on high fuel costs.

The average price of U.S. retail gasoline dipped to $3.83 a gallon in the week ended Monday, the Energy Information Administration said in its weekly survey of service stations.

Gasoline prices have fallen more than 11 cents in the past 4 weeks, and are down more than 13 cents from a year ago, after surging to record seasonal highs earlier this year.

Expensive fuel costs had become a hot-button campaign issue ahead of the U.S. elections in November, with lawmakers seeking to score political shots over the issue.

But a drop in oil prices has stymied gasoline's march toward $4 a gallon.

Delta Air Lines said on Monday it will buy a Pennsylvania oil refinery from ConocoPhillips, further easing fears that the closure of several major East Coast refineries would cause a shortfall in gasoline or diesel supplies this summer.

© 2021 Thomson/Reuters. All rights reserved.

Monday, 30 April 2012 05:43 PM
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