Wholesale gasoline prices in California have started to decline after Gov. Jerry Brown allowed an early switch to winter-grade fuel and as disrupted refinery operations returned to normal, the Energy Information Administration (EIA) reported.
In early October, the average retail price of regular gasoline in California reached the highest weekly price since the summer of 2008 after a combination of refinery and logistical problems stressed a market that had been operating with persistently low inventories throughout much of 2012.
The U.S. average retail price of regular gasoline decreased three cents last week to $3.82 per gallon, 34 cents per gallon higher than last year at this time. Prices decreased in all regions of the nation except the Gulf Coast. The U.S. national average diesel fuel price increased six cents to $4.15 per gallon, 35 cents per gallon higher than last year at this time.
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