US Retail Gasoline/EIA -2: Down Slightly In Midwest

www.quicken.com Tuesday, January 21, 2003 05:00 PM ET  Printer-friendly version   NEW YORK (Dow Jones)--The national average retail price of regular gasoline rose by 0.5 cent a gallon in the week ended Monday to $1.459, the highest price since Sept. 24, 2001, the Energy Information Administration said Tuesday.

Release of the weekly survey of 900 retail outlets was delayed by a day due to a holiday on Monday.

Prices were up 35.4 cents from a year earlier.

Prices were up for the sixth straight week, gaining 9.9 cents, or 7.3%, since Dec. 9. Crude oil and gasoline prices have gained in recent weeks on concerns over a continuing strike in Venezuela - the fourth-biggest oil supplier to the U.S. - and worries about the potential for a U.S. war with Iraq.

In the latest week, prices rose in all regions, except the Midwest where they were down slightly.

On the East Coast, gasoline prices rose by 0.2 cent to $1.462 and were 36.5 cents up from a year ago. That's the highest level since July 2, 2001.

Midwest prices slid 0.4 cent to $1.438, and were up 35.1 cents from a year earlier.

Gulf Coast prices were up 0.8 cent to $1.407 and were 35.8 cents higher than a year earlier. The price is the highest since June 25, 2001.

Rocky Mountains prices were up 0.1 cent at $1.414, and were 28.9 cents up from a year earlier.

West Coast prices were 3 cents higher at $1.548 and were 35 cents higher from a year earlier. That's the highest level since last July 15.

• By David Bird, Dow Jones Newswires; 1-201-938-4423; david.bird@dowjones.com