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Gas prices hold steady

06/26/2008

National average gas price stands at $4.067 after three days of declines.

June 26, 2008: 6:39 AM EDT

NEW YORK (CNNMoney.com) -- Retail gas prices have held steady while diesel prices have fallen, a daily survey by motorist group AAA showed Thursday.

The national average price for a gallon of regular gas was unchanged from the previous day at $4.067, ending three straight days of declines.

Gas prices are now about 3.3% higher than last month and 36.7% higher than they were a year ago.

California had the highest gas prices. Drivers in the golden state pay on average $4.596 for a gallon. Alaskans pay $4.543, the second highest average gas price in the nation, while Hawaiians pay the third highest price at $4.408.

Gas prices in Oklahoma average $3.843 - the lowest in the country - yet that price is still 29% above last year's nationwide average of $2.975 a gallon.

The survey also showed that the national average price for a gallon of diesel fuel fell four-tenths of a cent to $4.767 from $4.771 the day before. Retail diesel prices are nearly 64% higher than year-ago levels.

Meanwhile, oil prices fell sharply Wednesday after a government inventory report showed a surprise increase in the nation's stockpiles of crude. Many analysts say the larger-than-expected supplies are an indication that record high gas prices are causing consumers to cut back on driving.

CNN Money, http://money.cnn.com/2008/06/26/news/economy/gas/