By Joe Benton
ConsumerAffairs.com
January 5, 2007
Despite crude oil prices reaching their lowest levels since June of 2005, the average price of a gallon of regular gasoline remained virtually unchanged over the last week.
Regular self-serve now sells for $2.325 a gallon, down less than penny in a week. One month ago a gallon of regular cost $ 2.29 and one year ago it cost $2.24.
Mid-grade gasoline sells for $2.47 and premium $2.56, prices that are roughly the same as last week.
We could start seeing lower prices at the pump as early as this weekend, however, if the price of crude oil remains at current levels.
Gasoline prices usually fall in January because of declining demand then start back up around Valentine's Day and rise through the summer.
The warmer winter throughout the Northeast has meant less demand for heating fuels and the National Weather Service is forecasting continued mild conditions in the eastern U.S. suggesting refiners may beging shifting capacity over to gasoline production.
The least expensive gasoline is still found along the Gulf Coast at $2.20 a gallon, down 1.3 cents from a week ago. Denver enjoys the most affordable gas prices among large cities at $2.15 a gallon.
The cheapest gallon of regular on sale in the country is found once again in Jackson, Missouri for $1.98. The most expensive gallon sells in St. Thomas, Virgin Island for $3.30.
Here is a look a some gasoline prices from around the country in the ConsumerAffairs.com Gas Price Round Up.
California: Southern California is beginning the new year with gas prices that are about 40 cents higher than last year, 60 cents higher than two years ago, and a dollar higher than three years ago, according to the Automobile Club of Southern California's Weekend Gas Watch.
The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.63, which is eight-tenths of one cent lower than last week, 15 cents higher than last month, and 42 cents higher than last year.
In San Diego, the price is $2.68, also eight-tenths of a cent below last week's price, 13 cents above last month, and 39 cents above last year.
On the Central Coast, the average price is $2.838, unchanged from last week, 12 cents above last month, and 45 cents higher than last year. In the Inland Empire, the average price is $2.63, 1.2 cents below last week, 13 cents higher than last month, and 38 cents higher than last year.
"After an unusual three-week price increase in December, prices have settled back into a pattern of very little change that we have seen in past years around this time," said Auto Club spokesperson Carol Thorp. "We are starting 2007 with price averages that are 16 to 18 percent higher than they were at the beginning of 2006, 30 percent higher than January 2005 and 60 percent higher than they were in January 2004."
Texas: The New Year has brought falling retail gasoline prices to Texas.
The weekly AAA-Texas gas price survey shows regular self-serve gasoline averaging $2.21 per gallon, down a penny from last week.
Auto club spokeswoman Rose Rougeau says the New Year's holiday is usually a down time for travelers, reducing gasoline prices.
She says motorists planning trips to warm-weather areas should see stable gas prices for the next two weeks. The most expensive gasoline in Texas this week is found in the Austin area, where regular self-serve averaged $2.24 per gallon this week, down one cent from last week.
The cheapest gasoline is in Corpus Christi, where the average retail price fell about three cents to $2.14 a gallon.
