U.S. Gas Prices Relatively Stable Says Administration
The U.S. Energy Information Administration’s “Today in Energy” brief, which examines gasoline prices heading in to the Fourth of July holiday weekend, notes that this week the national average retail gasoline price was $3.70 per gallon.
Although this is the highest average heading into the Fourth of July holiday since 2008, gasoline prices in 2014 have remained well below the spring peaks reached in each of the previous three years.
The numbers shows that prices are currently 20 cents per gallon higher than last year at this time.
That said, prices this year did not peak as high as in recent years because, according to the government, relatively stable crude oil prices in 2014.
The peak retail gasoline price this year was $3.71/gal on April 29, lower than last year’s spring peak of $3.78, and lower than price peaks in 2011 and 2012. So far this year, the average price of gasoline has been $3.54/gal, the lowest for the first six months of the year since 2011.
Category: Fuel & Oil, General Update
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