Pump Prices Drop Below $3 in Gulf Coast

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Americans are paying less at the gas pump this week, according to an Energy Information Administration report released today.

The national average price for regular gasoline clocked in at $3.194 per gallon today, down $0.071 from a week ago and $0.255 below the same time last year. Pump prices fell across all regions, with Midwest prices down the most ($0.114). East Coast prices lowered the least, down just $0.046. 

Source: eia.gov. 

Diesel prices also made a dip, with a $0.025 decline over the past week to $3.832 per gallon. This latest price puts diesel $0.148 per gallon below the same time last year. For this week, West Coast prices dropped the most ($0.039), while Gulf coast price dropped the least ($0.017). 

Source: eia.gov 

At these latest prices, the West Coast pays the prettiest penny for gasoline ($3.507) and diesel ($3.976), while the Gulf Coast can guzzle gas for just $2.978 and diesel for $3.752 per gallon. This is the first time Gulf Coast gas prices have dropped below $3 since 2008, while national prices haven't hit $3 per gallon since 2007.

The article Pump Prices Drop Below $3 in Gulf Coast originally appeared on Fool.com.

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