Average Gas Prices See Record One-Week Drop

WASHINGTON --- The U.S. average retail price for regular gasoline decreased by 16.9 cents to 278.6 cents per gallon, the largest one-week price decrease ever recorded on the Energy Department's Energy Information Administration weekly price survey.

This is the second week in a row that retail gasoline prices have experienced a record one-week decline in prices. This week’s price is still 92.0 cents higher than this time last year.

Prices were down throughout the country, with the Midwest and the East Coast seeing the largest price declines of 21.6 cents and 20.0 cents per gallon, respectively.

The West Coast averaged 294.6 cents per gallon, with the average price in California at 295.4 cents per gallon. The Central Atlantic average price was not far behind, averaging 294.4 cents per gallon.