Gas retreats from record high

Nationwide average price of regular unleaded falls 0.8 cent from its all-time high, to just above $3.33 a gallon, in AAA survey.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

Should Congress step in and help struggling homeowners refinance their mortgages?
  • Yes
  • No

NEW YORK (CNNMoney.com) -- The average price of regular gasoline fell nearly a penny from its record high, a AAA survey showed Tuesday.

The average price of regular unleaded fell 0.8 cent, to $3.331 a gallon from the $3.339 record set the previous day, according to AAA's Web site.

Gas prices are up nearly 20% from what they were last year. A month ago, the nationwide average was $3.215 a gallon.

Pump prices have been on a record-setting run, supported by high crude prices as shrinking profit margins cause refiners to pull back on production.

The increased cost of refined aviation fuel has also put the squeeze on airlines, leading them to pass costs off to consumers.

The average price per gallon of diesel fuel rose more than a cent to $4.02.

The rising price of diesel fuel has been a major concern for workers in the trucking industry. Diesel averaged $3.809 a gallon last month and $2.905 a year ago.

California led the nation in pricey gas, at $3.723 a gallon. Hawaii maintained prices at $3.667 a gallon, followed by Alaska at $3.571 a gallon.

New Jersey remained the only state to see gas prices below $3.10 a gallon. Prices reached $3.046 a gallon.

The AAA survey, updated daily, tracks prices at roughly 80,000 service stations across the country. It is conducted for the group by Oil Price Information Service. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More


Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.