Gasoline price falls after hitting 2009 high: U.S. Government

WASHINGTON (Reuters) – U.S. retail gasoline prices fell in the latest week, as a drop in crude oil prices pushed fuel costs lower the week after gasoline hit a high for 2009, the Energy Department said on Monday.

The national price for regular unleaded gasoline declined 2.8 cents over the past week to $2.67 a gallon, but was still up 44 cents from a year ago, the department's Energy Information Administration said in its weekly survey of service stations.

Gasoline prices declined after the $10-a-barrel jump in crude oil costs during October was fully passed on to consumers at the pump, the subsequent drop in oil prices lowered fuel costs slightly.

But savings at the pump for consumers could be short-lived. Crude jumped almost $3 to top $80 a barrel again on Monday at the New York Mercantile Exchange as Tropical Storm Ida shut down some oil production in the Gulf of Mexico.

In its weekly price survey, the EIA found the West Coast had the most expensive gasoline at $2.91 a gallon, down 0.3 cent. By city, Los Angeles had the highest price at $3.02, down almost a penny.

The Gulf Coast states had the lowest regional price at $2.53 a gallon, down 3.5 cents. Houston had the cheapest city pump price at $2.48, down 2.3 cents.

The agency also said gasoline prices were up 0.3 cent at $2.82 in Seattle; down 3.9 cents at $2.79 in Chicago; down 1.7 cents at $2.78 in Miami; down 0.2 cent at $2.70 in New York; down 0.5 cent at $2.64 in Boston down 7.5 cents at $2.59 in Cleveland; and down 1.6 cents at $2.55 in Denver.

Separately, the average price for diesel fuel decreased 0.7 cent to $2.80 a gallon, about 14 cents less from a year ago, the EIA said.

The central Atlantic region had the most expensive diesel at $2.93 a gallon, down 1.4 cents. The Gulf Coast region had the cheapest diesel fuel at $2.75, down 0.3 cent.

(Reporting by Tom Doggett; graphics by Jasmin Melvin; Editing by David Gregorio)