Average price of gas falls 8.1 cents to $3.076 a gallon

The average U.S. pump price for regular gasoline fell 8.1 cents to $3.076 a gallon in the week ended Monday, the government said.

Prices were 17 cents a gallon higher than a year ago, according to the weekly report from the U.S. Energy Department in Washington. Diesel-fuel prices fell 0.7 cent to $2.792 a gallon, according to the report, based on a survey of about 800 filling stations.

Gasoline prices fell as inventories increased for a fifth consecutive week. A U.S. supply deficit narrowed to 5.3 percent below the five-year average in the week ended June 1 from 6.7 percent the previous week, an Energy Department report last week showed.

Pump prices decreased in all regions of the country. They dropped the most in the Midwest, where gasoline fell 15.2 cents to $3.073 a gallon.

California had the highest prices at an average $3.32 a gallon, down 5.4 cents. The lowest prices, averaging $2.962 a gallon, were in Gulf Coast states, where they fell 5.8 cents.