DETROIT -- Average gasoline prices throughout the United States dropped for the second straight week, reversing nearly two months of spikes.
The average price of regular unleaded fell 3 cents compared with Friday, Dec. 7, to $2.99 a gallon. Midgrade is at $3.18 a gallon, also down 3 cents, and premium is at an average of $3.29, down 4 cents.
Diesel fuel shot up 17 cents compared with Dec. 7 to $3.42 a gallon, 8 cents below the Nov. 29 record price of nearly $3.50 a gallon, according to AAA, of Heathrow, Fla.
E85 ethanol prices mirrored gasoline prices, dropping 5 cents to $2.36 a gallon. The adjusted price of E85 is $3.11 a gallon, down 6 cents. E85 prices are adjusted to reflect the fuels lower energy content when compared to gasoline.
AAAs Daily Fuel Gauge Report provides national average retail fuel prices based on data from as many as 85,000 filling stations nationwide.
Crude oil futures reached $91.49 in trading this morning after reaching a weekly high of more than $94 a barrel in trading Thursday, Dec. 13. The drop in crude prices coincided with a U.S. government report saying consumer inflation jumped in November by the highest monthly amount in more than two years, prompting concerns about waning demand, The Associated Press reported.
Drivers in Needles, Calif., are seeing the highest pump prices in the country, with regular gasoline costing $3.89 a gallon. The national low can be found in Beaverdam, Ohio, where drivers are paying $2.59 a gallon, according to www.GasPriceWatch.com. The Web site relies on volunteers to report pump prices nationwide.