Pump Prices Drop Below $3 in Gulf Coast

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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