The steady streak of increases in the U.S. average price for a gallon of regular unleaded gasoline is tapering off, a review from motor club AAA finds.
According to UPI, AAA reports a national average retail price of $2.45 per gallon. That’s down a fraction of a cent from Monday’s (March 9) price, which marked a formal end to the 40-day streak in price increases.
U.S. gasoline prices fell in parallel with oil prices last year. A record-breaking streak in falling prices at the pump ended in late January when prices started to move above the floor price of $2.04 per gallon nationally. Oil prices at the end of January also reached their historic bottom and started to move back above the $50 per barrel mark.
U.S. refineries at the beginning of February start a regular maintenance period as they shift from producing a winter blend of gasoline to a summer blend, which is more expensive to produce because of steps needed to prevent vaporization during warmer weather. A refinery fire in California added further pressure to gasoline prices.
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