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At the Pump: Gasoline Hovers at $3.27 per Gallon

Prices at the pump were relatively flat week over week for the week ending Dec. 9, with average prices in the U.S. for regular gasoline standing at $3.27 per gallon and diesel prices standing once more at $3.88. The average price paid by consumers for regular gas according to the Energy Information Administration is shown in the chart below:


Source: Energy Information Administration.

Prices remain below where they stood at this time last year when the average price per gallon stood at $3.35 a gallon, a difference of approximately 2.5%, or $0.08. Last week the yearly difference stood at roughly $0.12 per gallon.

On a regional basis, the Rocky Mountain area continued to see its prices fall precipitously; the region now has the lowest prices per gallon in the country. Prices there fell by $0.04 per gallon relative to last week, and are down by $0.25 relative to last year:


Source: Energy Information Administration. Figures are rounded. Change is from 12/2/13 to 12/9/13.

As with last week, there were an equal number of regions that saw their prices rise and fall -- yet no region saw prices rise by more than $0.01. Since the first week of September, prices have fallen on average by $0.34 per gallon, with the biggest declines coming in the Midwest (down $0.50) and Rocky Mountain (down $0.55) regions.

Like regular gasoline prices, diesel fuel was relatively flat when comparing the previous week to the most recent week:


Source: Energy Information Administration.

Relative to last year, diesel prices are down from $3.99, a difference of approximately 3%. 

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  • Report this Comment On December 11, 2013, at 5:40 PM, sporttster wrote:

    I guess the question now to ask is WHY? Why it is at $3.27/gallon when there is little demand? Why when we're not in summer driving time?? Why when we're sitting awash in oil?? Why aren't we below $3/gallon, where it should be??? Why?????

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Patrick Morris
TMFMorris

After a few stints in banking and corporate finance, Patrick joined the Motley Fool as a writer covering the financial sector. He's scaled back his everyday writing a bit, but he's always happy to opine on the latest headline news surrounding Berkshire Hathaway, Warren Buffett and all things personal finance.

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