U.S. gas prices fall for 30 straight days
Pump prices have fallen for 30 days running and have hit their lowest point for mid-July since 2004, according to the American Automobile Association. The national average price for regular, unleaded gas is $2.23 per gallon. But in DC, which has the seventh highest price in the nation compared with all states, itês $2.51.
Prices are expected to stay low for the immediate future as both crude oil and wholesale prices are down. A recent Energy Department report said that domestic gasoline production is just 100,000 barrels per day short of the all-time record another factor that should keep prices low.
Gas prices are of continuing interest to the auto industry because of their demonstrated effect on sales of SUVs and light trucks. Those sales have risen in recent months, even in the sedan- dominated Washington area retail vehicle market.Download Bulletin PDF