Drivers paid an average of $2.92 a gallon for regular unleaded gasoline today, down 4 cents from Tuesday, July 24. Prices stood 9 cents lower than a year ago today, according to AAA, of Heathrow, Fla.
The average price of both midgrade and premium unleaded gasoline dropped 4 cents compared with four days ago. Midgrade unleaded gasoline averaged $3.10 a gallon today, and premium averaged $3.21.
Diesel prices inched up 1 cent from four days ago to $2.96 a gallon.
AAA's Daily Fuel Gauge Report gathers data from as many as 85,000 filling stations nationwide and posts its findings on www.fuelgaugereport.com.
On Wednesday, July 25, the U.S. Department of Energy announced that gasoline inventories rose more than 800,000 barrels last week. This helped prices fall, even though crude oil stockpiles continue to shrink.
Worries of a slowing U.S. economy and a stock market selloff sent crude futures prices plummeting Thursday, July 26. Prices recovered just slightly today, according to The Associated Press.
Drivers in Beaver Island, Mich., are seeing the highest prices in the country at $4.16 a gallon. At $2.41 a gallon, drivers in Urbana, Ohio, are seeing the lowest, according to GasPriceWatch.com, which uses volunteer spotters to watch prices nationwide.
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|National Unleaded Average|
|Month Ago Avg.||$2.98||$3.16||$3.27||$2.91|
|Year Ago Avg.||$3.01||$3.19||$3.31||$3.02|
|*Prices are in U.S. dollars per gallon|