Thursday, October 18, 2007

Gas Prices Still High

From This Week in Petroleum

The U.S. average retail price for regular gasoline was lower by 0.8 cent last week to 276.2 cents per gallon as of October 15, 2007, but is still 53.6 cents higher than last year. All regions were lower except the West Coast which grew by 4.5 cents to 297.9 cents per gallon, the highest price in the country. The average price for regular grade in California was 305.3 cents per gallon, up 5.7 cents from last week and 51.3 cents per gallon over the previous year. The East Coast price fell 1.5 cents to 273.1 cents per gallon while the Gulf Coast declined by 2.5 cents to 264.2 cents per gallon, the lowest regional price. The Midwest price dropped 2.0 cents to 273.5 cents per gallon this week, plunging 24.4 cents since September 10. The Rocky Mountain region price decreased 0.7 cent to 279.5 cents per gallon.

As we inch toward the holiday shopping season this could be a problem. It is definitely something to keep an eye on.