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NEW YORK (CNN/Money) -
Retail gasoline prices fell across the U.S., according to AAA's daily fuel gauge report Wednesday, not yet reflecting increases in wholesale gasoline prices sparked by Hurricane Rita.
The national price average for regular unleaded gasoline at the pump fell to $2.764 a gallon from $2.788 Tuesday, according to the travel club.
Gasoline prices have fallen steadily since Labor Day, when prices crested at $3.057. Pump prices surged after Hurricane Katrina slammed into the Gulf Coast more than three weeks ago.
The average price for a gallon of regular unleaded gasoline was $1.859 a year ago, AAA reported.
Wholesale gasoline futures climbed 6.04 cents a gallon Monday to $2.0370 as Hurricane Rita continued to gain strength off the coast of Florida. The storm may reach Category 4 status by late Wednesday.
Rita is moving west near 14 mph and is expected to hit Galveston, Texas, by Friday.
Crude oil prices surged more than $1.13 to $67.33 a barrel early Wednesday.
Mid-grade and premium gasoline prices also slipped across the country Tuesday. The nationwide average at the pump for mid-grade gasoline fell to $2.935 from $2.961 a gallon Tuesday. Premium gasoline slipped more than two cents to $3.042 from $3.068 a gallon, AAA reported. Diesel prices edged slightly lower to $2.823 from Tuesday's price of $2.831.
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 $3.529. Gasoline prices in Oklahoma were the cheapest, with regular unleaded at $2.465, on average.
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Gas may be going down, but what can we expect on our energy bills? Click here.
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