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U.S. gasoline prices continue declines

U.S. gas more than 10 cents cheaper than one month ago.
By Daniel J. Graeber   |   July 28, 2014 at 10:26 AM   |   Comments

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WASHINGTON, July 28 (UPI) -- The average price for a gallon of regular unleaded gasoline in the United States is down five cents from last week, motor club AAA reported Monday.

AAA reports an average national price of $3.52 per gallon, down from the $3.57 average reported one week ago and the $3.68 average from this date in June.

AAA data show consumers on the East and West coasts of the United States are paying more than the rest of the country.

Wyoming reports a state average price of $3.62, while commuters in New York are paying around $3.85 per gallon. Missouri had one of the lowest state averages at around $3.26 per gallon.

U.S. gasoline prices increased in late spring after Sunni-led insurgents in Iraq seized control over northwestern territory in the country.

Last week, AAA said gasoline and oil prices were holding steady despite mounting tensions on the international stage. Domestic refineries, it said, were operating at peak capacity, which it said was offsetting some of the global geopolitical concerns that would otherwise cause gasoline prices to increase.

Conflict in Iraq, Ukraine and the Middle East has not spilled over into areas that produce substantial amounts of oil. The Libyan government said Monday it needed outside help with controlling an outbreak of violence, though Libyan oil production has been far below its peak capacity for years.

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