Gasoline Prices Dip 4 Cents
The U.S. average retail price of regular gasoline decreased four cents to $3.65 per gallon as of July 29, 2013, up 14 cents from last year at this time. Prices fell in all regions except the Rocky Mountains, where the price increased two cents to $3.64 per gallon. The Midwest price is $3.58 per gallon, a decrease of nine cents from last week. The Gulf and West Coast prices both dropped three cents, to $3.48 per gallon and $3.93 per gallon, respectively. Rounding out the regions, the East Coast price is down a penny to $3.65 per gallon.
The ICE Dec and Mar contracts gave back 160 and 87 points on the week, respectively, as last week’s inversion between the two contracts gave way to partial carry. Well,