Gasoline prices held steady over the weekend, leaving drivers with an average price of $2.76 a gallon for regular unleaded.
Today's prices for midgrade and premium unleaded gasoline also remained at levels reported Friday, Oct. 12. The national average price for midgrade is $2.93 a gallon, and premium is at $3.04.
Diesel fuel costs an average of $3.09 a gallon today, unchanged from Friday.
The average pump price of E85 ethanol dropped 2 cents to $2.23 a gallon. But because of the fuel's lower energy level when compared to gasoline, the adjusted price for E85 is $2.93, according to AAA, of Heathrow, Fla.
AAA's Daily Fuel Gauge Report provides national average fuel prices based on data from as many as 85,000 filling stations nationwide.
The slight decline in average fuel prices over the past few weeks could be reversed, as crude prices hit a record of more than $86 a barrel on Monday, Oct. 15. Crude oil futures reached an intraday record of $87.97 a barrel in early trading this morning.
The record prices came on the heels of the Organization of Petroleum Exporting Countries' announcement of likely falling production by nonmember countries while the market faces high demand. Record prices also were sustained by concerns that oil supplies could be disrupted if Turkish forces were to pursue Kurdish rebels into Iraq, The Associated Press reported.
Drivers in St. Thomas, U.S. Virgin Islands, are seeing the nation's highest prices at the pump, with regular unleaded costing $3.69 a gallon. For the national low, drivers in Pleasantville, N.J., are seeing regular unleaded cost $2.37 a gallon, according to www.GasPriceWatch.com. The Web site relies on volunteers to report gasoline prices at pumps nationwide.