EIA Reports
U.S. ENERGY INFORMATION ADMINISTRATION
WASHINGTON DC 20585
FOR IMMEDIATE RELEASE
July 1, 1999
As Fourth of July Weekend Approaches, Consumers See Only Moderately Higher
Gasoline Prices, Despite Rebound in Crude Oil Markets
Retail prices for regular grade gasoline averaged $1.11 per gallon nationwide on June 28, 1999, according to the latest weekly survey conducted by the Energy Information Administration. At this level, gasoline prices are about 6 cents higher than last year, just ahead of the Fourth of July holiday, one of the busiest travel weekends of the year. Last year consumers enjoyed record low gasoline prices as a result of very low crude oil prices. Crude oil prices are about 10 cents per gallon higher now, but with high gasoline inventories, reflecting excess supply, retail pump prices have not increased at the same rate as crude oil. While retail gasoline prices exceed last year's lows, the rebound still leaves them at typical seasonal levels. In fact, the national average gasoline price is lower than the average levels seen over the Fourth of July weekend throughout the 1995 through 1997 period.
Regional gasoline prices vary significantly. On the East Coast, gasoline prices average $1.07, about 5 cents per gallon higher than at this same time last year. Consumers on the West Coast are paying more for gasoline due to refinery and pipeline supply problems that are now pushing gasoline prices to $1.33, up 16 cents over last year. Midwest prices are averaging $1.09, approximately 2 cents higher than year-ago levels.
EIA's weekly gasoline price data are updated each Monday by 5:00 PM and are available by going to EIA's World Wide Web site (http://www.eia.doe.gov) and then selecting "Petroleum" or by going directly to: http://www.eia.doe.gov/oil_gas/petroleum/data_publications/weekly_retail_gasoline_prices/wrgp.html
Weekly updates to the gasoline price data can be automatically sent via e-mail each Monday afternoon. To sign up for this service, go to http://tonto.eia.doe.gov/email/index.htm#petroleum and then select "Weekly Retail Gasoline Prices." The price data are also available on a prerecorded telephone hotline at (202) 586-6966 and in the publication Weekly Petroleum Status Report.
| The report described in this press release was prepared by the Energy Information Administration, the independent statistical and analytical agency within the U.S. Department of Energy. The information contained in the report and the press release should be attributed to the Energy Information Administration and should not be construed as advocating or reflecting any policy position of the Department of Energy or any other organization. |
EIA Program Contact: Aileen Bohn, 202/586-4255
EIA Press Contact: National Energy Information Center, 202/586-8800
EIA-99-17
Contact:
-
National Energy Information Center
-
-
Phone:(202) 586-8800
-
FAX:(202) 586-0727
URL: http://www.eia.doe.gov/neic/press/press132.html
If you are having technical problems with this site please contact the EIA Webmaster at mailto:wmaster@eia.doe.gov
|