Money & Company

Tracking the market and economic trends
that shape your finances.

« Previous Post | Money & Company Home | Next Post »

Retail gasoline remains at record mid-January levels

January 18, 2011 |  2:19 pm

Gasoline pump prices continued their slow creep higher over the last week while oil prices drifted lower in spite of higher demand in China and other places overseas.

Gcprrets[1] Nationally, the average price of a gallon of retail gasoline moved up 1.5 cents to $3.104, the highest ever for this time of year, according to the Energy Department's weekly telephone survey of filling stations around the U.S. The next highest price for this week of a new year was the $3.017 a gallon, recorded in 2008.

In California, the news for motorists was equally grim. The average price of a gallon of regular here climbed 1.7 cents to $3.349. That also was a record for this time of year, with 2008 representing the only time that came relatively close, when the average in California was $3.226 a gallon.

Meanwhile, crude oil futures for February delivery fell 16 cents to settle at $91.38 a barrel on the New York Mercantile Exchange.

-- Ronald D. White