Gas prices fall 8.2¢

Published: Tuesday, July 31 2007 1:46 a.m. MDT

The average U.S. pump price for regular gasoline fell 8.2 cents to $2.876 a gallon in the week ended Monday, the government said.

Prices were 12.8 cents a gallon lower than a year ago, according to the weekly report from the U.S. Energy Department in Washington. Diesel-fuel prices dropped 0.3 cent to $2.886 a gallon, according to the report, based on a survey of about 800 filling stations.

Gasoline prices fell as inventories rose, leaving them 3 percent below the five-year average according to the Energy Department's supply report last week, narrower than a 3.7 percent deficit the previous week.

Pump prices fell the most in the Midwest, where gasoline dropped 13.6 cents to $2.848 a gallon.

California had the highest prices, which fell 5.8 cents to an average $3.06 a gallon. The lowest prices, averaging $2.792 a gallon, were in Gulf Coast states, where they fell 7.5 cents.

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