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Gas Price Retreat Continues

By Joe Benton
ConsumerAffairs.com

August 29, 2006

• Latest Gas Price Round-Up • Oil Prices Fall As Storm Misses Rigs • 'Run Your Car On Water' Scheme Could Leave Consumers All Wet • Unregulated Energy Trading Blamed for Much of Gas Price Gusher • Airlines Join Effort To Limit Oil Speculators • Questions Raised about MyGallons.com • 'Hypermiling' Is Dangerous, Says AAA • Struggling Drivers Blame Washington for High Gas Prices • What’s Really Fueling Those Sky-High Oil Prices • Credit Card Fees at the Pump are a 'Hidden Tax' on Consumers • Survey: 3 Out of 4 Angry About High Gas Prices • $2 A Gallon Gas Possible, Analysts Tell Congress • Speculators Buy More Oil Contracts Than Oil Companies • Saudis to Pump More Oil • Limiting Oil Speculators Gains Ground • Congress To Probe Oil Price Spike • Oil Market 'Saturated,' Iran Claims • Feds See No Relief from High Gas Prices • High Gas Prices Could Mean Lower Insurance Rates • High Gas Prices Good For Kia, Honda • Gas Prices Rip Past $4 and Keep Climbing • Administration, OPEC See Different Causes Of Oil Surge • Feds Probing Possible Oil Market Manipulation • Beware of Fuel Sippers Sipping High-Test • Retailers Respond to High Gas Prices with Discounts, Promotions • Rushing Into a Smaller Car Too Soon May Not Save Money • Hybrid Sales and Prices Climb in Lockstep with Gas Prices • Truckers Bemoan Burden of High Diesel Costs • Gas Prices Biting into Worker Productivity • Consumers Warned About Gas-Saving Schemes • Is Tony Soprano Controlling Gas Prices? • Oil & Gas: The New Bubble • Critics: New Federal Gas Mileage Standard Falls Short • Consumers Feeling Pain of Skyrocketing Gas Prices • New Gas Price Record Forecasts Expensive Summer Driving Season --- • More ...

Gasoline prices have reached their lowest level of the entire summer with the national average price of regular unleaded gasoline hitting $2.84 a gallon, down 5 cents in 3 days.

The price of regular self-serve is down 8 cents a gallon from one week ago, down 17 cents a gallon from one month ago but up 24 cents from one year ago, according to AAA, of Hawthorne, Florida.

The last time the national average price for regular gasoline sat at $2.84 was in April. Demand for gasoline usually declines following the Labor Day weekend, suggesting prices may fall even more in the weeks ahead.

One year ago gasoline prices were about to jump to $3.06 a gallon setting a record high price as Hurricane Katrina crossed of the Gulf Coast damaging refineries and closing gasoline pipelines. Earlier this summer, the price of a gallon of regular gasoline peaked at $3.03

Midgrade gasoline is selling for an average price of $3.02 a gallon, while premium gasoline was averaging $3.13 a gallon. Those prices are down 5 cents a gallon in 3 days also.

Gasoline in Kahului, Hawaii is selling for 78 cents more than the national average at $3.62 a gallon. That is the most expensive gallon of regular gasoline in the country.

In Englewood, Ohio, regular gasoline is selling for $2.31 a gallon and that is the lowest price found in the country.

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