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Gas Prices Still Falling, Though More Slowly

By Joe Benton
ConsumerAffairs.com

October 13, 2006

• Gas Prices Head Lower as Economy Slows • Gas Price Declines for 9 Days • Gas Prices Continue Downward Trend • Oil Prices Surge By Record $25 a Barrel • Gas Prices Drop for 5 Days • Price-Gouging Probes Spread to 6 States • Investigations of $5 Gas in North Carolina, Florida, and Virginia • Shortages, Price Hikes Follow Ike in Southeast • States Investigate Gasoline Price Gouging Claims • Pumping More U.S. Oil Won't Lower Prices, Consumer Group Says • Oil Prices Fall, Gas Prices Surge • Gas Prices Slide 8 Percent from Record --- • More ...

Gasoline prices continue to fall, though the decline seems to have leveled off. The national average price for a gallon of regular unleaded gasoline is $2.25, down a penny from the average three days ago, according to AAA, of Hawthorne, Florida.

Midgrade gasoline is selling for an average of $2.39 a gallon and premium for $2.48 a gallon. Both grades are down one penny from the average price three days ago.

The national average for diesel fuel is $2.62 a gallon, unchanged from three days ago.

Virginia Beach enjoys the lowest price at the pump and throughout the country with a gallon of regular self-serve selling for $1.87. The highest pump price for regular unleaded is $3.39 a gallon in Paia, Hawaii.

Here is a look at some gasoline prices from around the country in the weekly ConsumerAffairs.com Gas Price round Up.

California: Area gas prices have fallen at an unprecedented pace for the past eight weeks, according to the Automobile Club of Southern California's Weekend Gas Watch.

"Prices have dropped by more than 60 cents in most Southern California areas over the past two months," said Auto Club spokeswoman Carol Thorp. "With price downturns averaging a penny a day or more in the last 60 days, this is a record rate of decline. Crude oil prices are still around $60 a barrel after peaking near $80 this summer, and supply continues to be plentiful nationwide at a time when typically, demand starts dropping."

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.60, which is 8.4 cents lower than last week, 39 cents lower than last month, and 37 cents lower than last year.

In San Diego, the price is $2.52, seven cents below last week's price, 44 cents below last month, and 49 cents below last year.

On the Central Coast, the average price is $2.85, down 7.5 cents from last week, 37 cents below last month, and 19 cents lower than last year.

In the Inland Empire, the average price is $2.55, down 7.3 cents from last week, 44 cents below last month, and 42 cents lower than last year.

The average cost per gallon of gas in the Bay Area is $2.68 but in San Francisco gas costs an average of $2.73 a gallon. In nearby Vallejo or Pleasanton gas averages $2.47 and $2.48 per gallon.

Other cities with relatively low gas prices include San Jose, where the average cost is $2.52; Fremont, where a gallon of gas costs $2.55; and Concord, where gas averages $2.54 a gallon.

Texas: Gasoline prices fell across Texas for a 10th consecutive week, according to the weekly AAA Texas gasoline price survey.

The survey showed retail prices of regular, self-serve gasoline across the state averaged $2.13 a gallon, down 3 cents from last week and 78 cents from 11 weeks ago.

"Retail gas and crude oil prices continued to move lower despite speculation that members of OPEC would cut back on oil production," said AAA Texas spokeswoman Rose Rougeau.

The cheapest gas in the survey remained in Corpus Christi at $2.03 a gallon. The most expensive remained in El Paso, where the prices averaged $2.25 per gallon.

Arizona: According to AAA Arizona, gas prices this week dropped for the twelfth week in a row and continue down like a concrete block in deep water hitting a statewide average of $2.28 per gallon of self-serve unleaded regular.

The Phoenix metro region reported average gas prices of $2.18 per gallon. Scottsdale remains the most expensive spot for gasoline with an average of $2.29 per gallon.

Florida: The price for self-serve regular in Florida currently averages $2.28, while in Orlando the average is $2.21.

Prices haven't been this low since March 3, according to the latest AAA Fuel Gauge Report.

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