Sunday, December 21, 2008

U.S. retail gasoline prices decline to $1.66 per gallon

by Bill McBride on 12/21/2008 07:20:00 PM

From Bloomberg: U.S. Retail Gasoline Falls to $1.66 a Gallon, Lundberg Says

The average price of regular gasoline at U.S. filling stations fell to $1.66 a gallon as the nation’s recession sapped demand.

Gasoline slipped 9 cents, or 5.1 percent, in the two weeks ended Dec. 19, according to oil analyst Trilby Lundberg’s survey of 7,000 filling stations nationwide.
Gasoline Prices Click on graph for larger image in new window.

This graph shows the nominal weekly U.S. gasoline prices since 1993 (source: EIA)

Gasoline prices are close to the 2000 through 2003 price range, when the median prices was just over $1.50 per gallon.

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