Gas prices drop to lowest level in eight weeks

The average price drivers paid for gasoline fell to $2.46 a gallon, the lowest level in eight weeks, the Energy Department said Monday.
The national price for regular unleaded gasoline dropped 6.5 cents over the last week and was down $1.60 from a year ago, the department's Energy Information Administration said in its weekly survey of service stations.

The latest pump price reflects lower crude oil costs, which make up more than half the cost of making gasoline.

In its weekly price survey, the EIA found the West Coast had the most expensive gasoline at $2.77 a gallon, down 5 cents from last week. By city, San Francisco had the highest price at $2.87, down 3 cents.

The Gulf Coast states had the lowest regional price at $2.32 a gallon, down 6 cents. Houston had the cheapest city pump price at $2.26, down 6 cents.

The agency also said gasoline prices were down 8 cents at $2.68 in Seattle; down 7 cents at $2.59 in Chicago; down 6 cents at $2.58 in Miami; down 5 cents at $2.56 in New York City; down 6 cents at $2.46 in Boston and down 10 cents at $2.35 in Cleveland.

Separately, the average price for diesel fuel fell 5 cents to $2.50 a gallon, down $2.22 from a year ago, the EIA said.

The Central Atlantic states again had the most expensive diesel at $2.63 a gallon, down 3 cents. The Gulf Coast region had the cheapest diesel fuel at $2.44, also down 5 cents. link...