MW: U.S. retail gasoline resume fall, hitting $1.64 a gallon
The average U.S. retail gasoline price resumed its fall after a week of stability, dropping to $1.64 a gallon for regular, according to the AAA Fuel Gauge report Friday. Prices had remained at or near $1.66 per gallon for well over a week prior to the recent drop. AAA attributed the decline to seasonal factors, in which "holiday demand for gasoline starts draining from the market and the slowest period of the year for fuel consumption - January and February - gets underway." The current price is far below the year ago level of $2.98 a gallon and the record $4.11 a gallon reached on July 17.
