Gasoline prices fall further, may have already peaked for year


gas pumpsRetail gasoline prices continued to fall nationally and in California over the last week, the Energy Department said.

The U.S. average price for a gallon of regular gasoline fell 4 cents to $3.830, according to the Energy Department’s weekly survey that was released Monday. The U.S. average hit its peak for the year of $3.941 a gallon on April 2 and has fallen for four straight weeks. A year earlier, U.S. drivers spent 5.1 cents more for a gallon of gas.

In California, the average cost for a gallon of regular gasoline fell 1.7 cents to $4.186. California prices have fallen for seven straight weeks since reaching their high for the year of $4.376 on March 12. The current California average is 7.1 cents a gallon below the year-earlier price.

Gasoline prices have peaked before mid-May just once in the last 20 years and it hasn’t happened since 1998, according to Energy Department statistics, but one expert said 2012 has been an unusual year.

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I am business-minded college student who has a heart for helping others attain emotional independence and psychological stability. My background lies in Broadcasting, network marketing, and Human Services. I believe that crises and extreme stress is necessary for one to grow and figure out what matters in life (Tony Robbins). This keeps me going when frustrations arise in my business. View all posts by smartspending5

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