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From Your Wallet to Wall Street: The Money News That Matters to You From the ABC News Business Team
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MONTHLY ARCHIVES
Gas Prices Drop Five Cents This Week
July 21, 2008 5:55 PM
ABC News' Daniel Arnall reports: The Energy Department says consumers are seeing a bit of relief at the pump this week. The national average price of a gallon of regular unleaded fuel is now $4.06, down 5 cents from the previous week.
It's the first substantial drop in the price of gasoline since the week of March 24, when the average price dropped by 3 cents. Even with the drop, this marks the seventh straight week in which the national average price has been above $4.
The price is 37 percent higher than a year ago, when the average price was $2.96.
Prices in all regions of the country dropped, except for the Rocky Mountain West, where prices were up a penny week-over-week.
Oil prices, which saw tremendous drops from the record price of more than $147 last week, settled up $2.16 today (to $131.04) thanks to Tropical Storm Dolly rolling into the Gulf of Mexico’s oil producing region.
July 21, 2008 | Permalink | User Comments (0)
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