Gas Prices Down Slightly From Yesterday, Last Week

The average price of gasoline is a fraction of a cent less than yesterday's price, and the price seven days ago, raising consumers' hopes that the upward price spiral may be broken.

The average price of self-serve regular gas today is $3.982 a gallon, down from $3.984 seven days ago, according to AAA's Fuel Gauge Survey. For the first time in months, the average price is lower than it was a week ago.

Diesel fuel prices fell nearly three cents a gallon, with the average price at $4.137.

On Wall Street this week, energy traders began selling their positions in the crude oil and gasoline futures markets. The price of crude has fallen below $100 a barrel on the New York Mercantile Exchange. On Wednesdays, gasoline futures for June delivery fell so fast that trading had to be suspended at one point.

Still headed higher

But retail gasoline prices, which take longer to react, were still headed higher in many parts of the country at midweek. In fact, in Washington, DC the price of gas jumped by 25 cents a gallon at some stations, prompting the District's attorney general to launch a criminal investigation.

Several other states also saw large spikes in gas prices, sparking outrage among consumers who were aware of the falling price in the futures market. This week, 17 states have average gas prices over $4 a gallon.

The states with the most expensive gasoline today are:

• Hawaii ($4.513)
• Alaska ($4.301)
• Illinois ($4.29)
• Connecticut ($4.281)
• California ($4.244)
• Washington, DC ($4.206)
• New York ($4.170)
• Michigan (($4.169)
• Indiana ($4.160)
• West Virginia ($4.120)

The states with the least expensive gasoline today are:

• Wyoming ($3.667)
• Utah ($3.743)
• South Carolina ($3.751)
• Arizona ($3.756)
• Montana ($3.759)
• Colorado ($3.776)
• Mississippi ($3.786)
• Alabama ($3.787)
• Tennessee ($3.793)
• Arkansas ($3.823)