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NEW YORK (CNN/Money) -
Gasoline prices fell slightly in the U.S., according to AAA's daily fuel gauge report Tuesday, not yet reflecting a spike in wholesale prices on fears over Tropical Storm Rita.
The national average for the price of regular unleaded gasoline at the pump fell to $2.788 a gallon from $2.805 Monday, according to the travel club.
Gasoline prices have steadily retreated since Labor Day when prices peaked at $3.057 -- nearly 27 cents below Monday's average. Pump prices surged after Hurricane Katrina slammed into the Gulf Coast three weeks ago.
The average price for a gallon of regular unleaded gas was $1.853 a year ago, AAA reported.
Wholesale gasoline futures surged over 14 percent or 25.76 cents a gallon Monday to $2.0427 a gallon as Tropical Storm Rita triggered hurricane warnings in the Florida Keys. Prices have since retreated 6.31 cents to $1.9796.
The storm is expected to reach hurricane status some time Tuesday and is moving west-northwest at about 15 mph towards the already damaged Gulf region.
Crude oil prices surged by more than $4 a barrel Monday to settle at $67.39 a barrel on the New York Mercantile Exchange.
Mid-grade and premium gasoline prices slipped across the country Tuesday. The nationwide average at the pump for mid-grade gasoline fell to $2.961 from $2.976 a gallon Monday. Premium gasoline slipped to $3.068 a gallon from $3.085, while diesel prices edged slightly lower to $2.831 from Monday's price of $2.846, AAA reported.
AAA's "Daily Fuel Gauge Report" revealed that gasoline prices in Hawaii were the most expensive in the country, with the average cost of regular unleaded being $3.625. Gasoline prices in Oklahoma were the cheapest, with regular unleaded at $2.487 on average.
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