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U.S. weekly gasoline price falls 11.7 cents -govt
22 Sep 2008 21:04:33 GMT
Source: Reuters
By Tom Doggett

WASHINGTON, Sept 22 (Reuters) - The U.S. average retail price for gasoline fell 11.7 cents over the last week to $3.72 a gallon, as more oil refineries and fuel pipelines resumed operations after being shut by Hurricane Ike, the government said on Monday.

The national price for regular unleaded gasoline was still up 91 cents from a year ago, the federal Energy Information Administration said in its weekly survey of service stations.

The drop in the latest pump price erased more than half the 19-cent jump in fuel costs that occurred the previous week as Ike approached the Gulf Coast.

Nine oil refineries in Texas with 2.3 million barrels per day in refining capacity remained shut in the wake of Hurricane Ike.

The shut facilities account for about 13 percent of total U.S. refining capacity and represent almost 800,000 barrels a day in lost gasoline production, according to the EIA.

In the EIA's weekly survey, gasoline was the most expensive in the lower Atlantic states at $3.82 a gallon, down 13.6 cents. Chicago had the highest city price at $4.05, down 24.4 cents.

The New England states had the lowest regional price at $3.60 a gallon, down 5.4 cents. Boston had the lowest city pump price, down 3.8 cents at $3.54.

The EIA also reported gasoline prices were down 5.7 cents at $3.87 in Miami, down 15 cents at $3.83 in Cleveland, down 6.9 cents at $3.70 in Seattle, down 7.3 cents at $3.69 in Los Angeles, down 1.5 cents at $3.63 in New York City, down 6.8 cents at $3.62 in Denver and down 9.2 cents at $3.60 in Houston.

Separately, the average price for diesel fuel declined 6.5 cents to $3.96 a gallon, falling below $4 on a national level for the first time since April 7, but still up 93 cents from a year earlier, the EIA said.

The New England states again had the most expensive diesel at $4.11 a gallon, down 13.6 cents. The Gulf Coast had the cheapest fuel at $3.92, down 8.7 cents. (Reporting by Tom Doggett)


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Haitians unload food donated by the NGO CARE and World Food Program "WFP" after flooding in the town of Gonaives September 22, 2008. Haiti has been blasted by four storms - ...



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