Gasoline Prices Drop a Nickle
The U.S. average retail price of regular gasoline decreased five cents to $3.50 per gallon as of September 23, 2013, 33 cents lower than last year at this time, and the lowest price since July 8. Prices were down in all regions of the nation, with both the East and Gulf Coast prices dropping seven cents, to $3.46 per gallon and $3.23 per gallon, respectively.The Midwest price was $3.46 per gallon, the Rocky Mountain price $3.59 per gallon, and the West Coast price $3.87 per gallon, all three cents lower than last week.
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,