Jane Van Ryan
Posted October 7, 2009
If a picture is worth a thousand words, the graph below speaks volumes about the price of gasoline. It illustrates how much gasoline's pump price has fallen in various regions of the country since gasoline reached a record high in July 2008.
Note: Image updated 10/08/2009
According to the Department of Energy's Energy Information Administration (EIA), the average U.S. retail price for all grades of gasoline fell $3.13 cents a gallon from the prior week, to $2.523 a gallon. The average price for regular grade gasoline finished the week ending October 5 at $2.468 a gallon.
Gasoline prices historically have tracked crude oil prices, which are determined on the global crude oil markets. Last year, high worldwide demand for oil relative to supply pushed oil prices up. Then as prices rose, demand declined and the economic downturn reinforced the fall.
For more information about oil and gasoline prices, check the graphs in Energizing America: Facts for Addressing Energy Policy embedded below.
ABOUT THE AUTHOR
Jane Van Ryan was formerly senior communications manager and new media advisor at the American Petroleum Institute (API), where she wrote blog posts and produced podcasts and videos. Before coming to API, Jane managed communications for a large science and engineering corporation, and for a top-tier research and engineering university. A few years ago, you might have seen her in your living room when she delivered the news on television. Jane officially retired from API in 2011 and now freelances as an independent communications consultant when not gardening at her farm in Virginia.