US National Average Gasoline Price Dips Again

U.S. retail gasoline prices slipped last week to a national average of $2.52 a gallon, down a penny from the prior week. Diesel fuel also ticked down by a penny a gallon to $2.93. Month over month the price dropped by 4 cents a gallon but remain nearly 23 cents a gallon higher year over year. Last month the national average was $2.57 while the year-ago average was $2.30.

Falling crude oil inventories and steady prices for crude remained the rule for the week ended March 9. Refinery utilization remained at around 88% as refiners perform scheduled maintenance and make the switch from winter- to summer-grade fuel.

As more seasonal maintenance begins at U.S. refineries over the next few weeks, utilization rates will decline and gasoline production will slip as well. This typically leads to a small rise in pump prices…


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