US regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004, according to data from the US Energy Information Administration (EIA) posted on its website on January 6.

Lower crude oil prices in 2015 were the main cause of lower gasoline prices. In 9 of the 10 cities for which EIA collects weekly retail price data, gasoline prices did not exceed $3.00/gal.

Each Monday, EIA collects and publishes data on retail gasoline and diesel fuel prices for multiple locations across the country. Retail gasoline prices are published for 10 cities, 9 states, 5 regions, and the United States as a whole. Gasoline prices across the country reflect differences in gasoline specifications, taxes, and supply and demand balances in regional markets.

(New Europe, January 9, 2017)

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