WASHINGTON – Retail U.S. gasoline prices fell about 2 cents over the last week to $1.905 per gallon on Monday after two consecutive weekly increases, the government said.
The average price for regular unleaded gasoline is up 39 cents from a year ago, according to the Energy Information Administration's (search) weekly survey of service stations.
Gasoline prices remain near $2 per gallon because the $4 jump crude oil prices over the last few weeks is being passed on to consumers.
Crude oil accounts for almost half the cost of producing gasoline.
Oil for September delivery ended down 27 cents to $41.44 a barrel on Monday at the New York Mercantile Exchange (search).
The EIA's weekly report also showed the retail price for cleaner-burning reformulated gasoline, sold in polluted metropolitan areas, declined 1.8 cents to $1.996 a gallon.
The West Coast had the most expensive regular unleaded gasoline, with the price down 2.2 cents to $2.091 a gallon. San Francisco topped the agency's city survey of gasoline costs, but the price fell 2.5 cents to $2.172 a gallon.
The U.S. Gulf Coast (search) had the cheapest fuel by region, with the price down 1.2 cents at $1.806 per gallon. Houston had the lowest pump price at $1.764 a gallon, down 0.2 cent.
The weekly report also showed gasoline prices were down 1.1 cents to $2.018 in New York City, down 0.9 cent to $1.974 in Miami, down 4.3 cents to $1.937 in Chicago, down 1.7 cents to $1.953 in Seattle, and down 6 cents to $1.834 in Cleveland.
Separately, the EIA survey said the average pump price for diesel fuel rose a penny to $1.754 a gallon.
Truckers on the West Coast paid the most for diesel fuel at $2.031 a gallon, down 0.2 cent from the prior week. Gulf Coast states had the cheapest diesel at $1.691, up 1.7 cents.
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